BUSINESSMEN – AUSTRALIA

ACMA probes Gordon’s Prime shares

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 7-Oct-19

WIN Corporation owner Bruce Gordon currently has a 19.7 per cent stake in rival regional TV broadcaster Prime Media Group. This comprises a direct stake of 11.6 per cent and an 8.1 per cent stake held via a cash-settled share swap. The Australian Communications & Media Authority is investigating Gordon after his ‘relevant interest’ in Prime exceeded the maximum of 20 per cent earlier in 2019. However, ACMA is expected to conclude that the breach was an error caused by the failure of a middleman to properly execute a swap with Swiss bank Vontobel.

CORPORATES
WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, VONTOBEL BANK, DEUTSCHE BANK AG, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED

Forrest’s $300m war on plastic

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 26-Sep-19

Australian iron ore magnate Andrew Forrest has revealed a proposal to reduce global plastic waste by imposing a levy on plastics manufacturers. Forrest says the levy would initially raise about $US20bn a year, which could potentially increase to $US100bn, and the proceeds would be used to encourage the plastics industry to collect waste products and convert them back into polymer resin for reuse. Forrest’s Minderoo Foundation will invest some $US300m ($442m) in the initiative. Forrest says plastics are the biggest threat to the world’s oceans.

CORPORATES
MINDEROO FOUNDATION, FORTESCUE METALS GROUP LIMITED – ASX FMG, UNITED NATIONS. GENERAL ASSEMBLY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, ELLEN MacARTHUR FOUNDATION, UNIVERSITY OF WESTERN AUSTRALIA

$80m deal: Singleton sells out of radio after 60-year career

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Original article by Zoe Samios
The Australian – Page: 1 : 23-Sep-19

Nine Entertainment Company’s hopes of gaining full ownership of Macquarie Media have been boosted after John Singleton advised that he will accept the offer of $1.46 per share unless a higher bid emerges. The advertising industry veteran has a 32.2 per cent stake in the owner of radio stations such as 2GB and 3AW, and he will gain about $80m from the transaction. Singleton says he may invest in the media sector in the future, but he adds that breeding horses and canaries are now his top priority.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD

Retail king Harvey says: ‘I’m never going to retire’

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 15 : 2-Sep-19

Harvey Norman chairman Gerry Harvey says the company recorded three per cent growth in same-stores sales during the first two months of 2019-20. The furniture and consumer electronics retailer’s pre-tax net profit for 2018-19 was 8.4 per cent higher than previously, at $574.56m. Meanwhile, Harvey has ruled out retirement, despite approaching his 80th birthday.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Bouris calling with a warning about Labor

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Original article by Simon Benson
The Australian – Page: 8 : 17-May-19

Wizard Home Loans founder Mark Bouris has attracted scrutiny from the Australian Electoral Commission for targeting voters via a robo-calling campaign. Bouris, who is not a candidate in the federal election, used automated phone calling technology to contact 200,000 households in marginal electorates. He warned that Labor’s proposed negative gearing and capital gains tax reforms would see house prices fall. Bouris has stressed that he was not acting on behalf of any political party.

CORPORATES
AUSTRALIAN ELECTORAL COMMISSION, AUSTRALIAN LABOR PARTY, WIZARD HOME LOANS, YELLOW BRICK ROAD HOLDINGS LIMITED – ASX YBR, LIBERAL PARTY OF AUSTRALIA

Rich Lister hemp campaigner backs Abbott

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 9 : 23-Apr-19

Barry Lambert, the chairman and biggest shareholder of hemp company Ecofibre, is urging voters in the seat of Warringah to re-elect former prime minister Tony Abbott. Lambert is keen to get medical cannabis legalised, and he says Abbott has been supportive of his campaign. Lambert has urged Labor leader Bill Shorten to legalise hemp extract for medical purposes if he wins the election; Lambert also says Shorten should exempt existing investors from Labor’s proposed franking credit reforms.

CORPORATES
ECOFIBRE INDUSTRIES LIMITED, AUSTRALIAN LABOR PARTY, THOMAS JEFFERSON UNIVERSITY, COUNT FINANCIAL LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, ONE NATION PARTY

Miner Forrest makes long march to Norway to protest offshore oil drilling

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Original article by Perry Williams
The Australian – Page: 21 & 24 : 22-Mar-19

Australia’s National Offshore Petroleum Safety & Environmental Management Authority has received more than 30,000 submissions regarding a proposed oil drilling program in the Great Australian Bight. Fortescue Metals Group founder Andrew Forrest is amongst those who oppose the drilling plans of Norway-based Equinor, due to the potential environmental impact on the Bight. Forrest’s Minderoo Foundation recently launched the Flourishing Oceans initiative.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MINDEROO FOUNDATION, EQUINOR, AUSTRALIA. NATIONAL OFFSHORE PETROLEUM SAFETY AND ENVIRONMENTAL MANAGEMENT AUTHORITY, THE WILDERNESS SOCIETY, VALE SA, CHEVRON CORPORATION, BP PLC, FLOURISHING OCEANS, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, ACIL ALLEN CONSULTING PTY LTD, WOOD MACKENZIE

One Nation pulls Palmer preference lifeline

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Original article by Jamie Walker, Andrew Burrell
The Australian – Page: 1 & 4 : 21-Jan-19

Businessman Clive Palmer is targeting the marginal seat of Herbert in Queensland as he seeks a return to federal politics. Palmer was elected as MP for the seat of Fairfax in 2013 under what was then the Palmer United Party, but chose not to recontest the seat at the 2016 election. Palmer will seek election under the rebadged United Australia Party, but One Nation leader Pauline Hanson has said it will place the UAP last on its how-to-vote card in Herbert. Palmer’s collapsed Queensland Nickel company is said to owe $300 million, and Hanson says One Nation could not consider giving preferences to Palmer until he pays all his former workers their entitlements

CORPORATES
PALMER UNITED PARTY, ONE NATION PARTY, UNITED AUSTRALIA PARTY, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, KATTER’S AUSTRALIAN PARTY, QUEENSLAND NICKEL PTY LTD

Nine gets claws into Fairfax as Catalano walks

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Original article by Lilly Vitorovich
The Australian – Page: 19 & 24 : 28-Nov-18

The Federal Court’s Justice Jacqueline Gleeson has approved the $4bn merger between Nine Entertainment Company and Fairfax Media. Former Domain CEO Antony Catalano has indicated that he is unlikely to appeal the decision, although he maintains that the deal undervalues Fairfax. Catalano had sought to challenge the merger with the financial backing of businessman Nick Bolton. Fairfax shares will be delisted on 29 November.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, STAN ENTERTAINMENT PTY LTD, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Bolton backs Cat’s bid to halt Fairfax deal

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Original article by Lilly Vitorovich
The Australian – Page: 17 & 28 : 27-Nov-18

Nine Entertainment Company and Fairfax Media will seek final approval by the Federal Court for their proposed merger on 27 November. It has been revealed that businessman Nick Bolton is one of the financial backers of a legal challenge to the merger that has been launched by former Domain CEO Antony Catalano. Bolton has a 49 per cent stake in Aurora Funds Management, which will join Catalano in his bid to block the deal. More than 81 per cent of Fairfax shareholders had voted in favour of the merger.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA, AURORA FUNDS MANAGEMENT LIMITED, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, BRISCONNECTIONS UNIT TRUSTS, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN STYLE INVESTMENTS PTY LTD, THIESS JOHN HOLLAND, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD