LICENCES – AUSTRALIA

APRA prepares to approve three new banks

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Original article by James Eyers
The Australian Financial Review – Page: 26 : 28-Aug-18

There is speculation that the Australian Prudential Regulation Authority could grant full banking licences to fintech start-ups Volt Bank, 86400 and Judo Capital by the end of 2018. They would be subject to the same capital requirements as other banks, while gaining the trust of consumers will be a challenge. However, they should benefit from a lack of legacy IT systems and branch networks, as well as negative sentiment toward traditional banks in the wake of the royal commission.

CORPORATES
AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, VOLT BANK LIMITED, 86400 PTY LTD, JUDO CAPITAL PTY LTD, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Licence fee win boosts TV, radio

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Original article by Stephen Brook
The Australian – Page: 19 : 29-Jun-17

Free TV chairman Harold Mitchell and Commercial Radio Australia CEO Joan Warner have welcomed the Federal Government’s decision to waive broadcasting licence fees for the 2016-17 financial year. The Government proposes to permanently replace broadcasting licence fees with a spectrum charge as part of its media cross-ownership reforms. Shares in listed media companies rallied after the one-off waiver was announced. It is expected to save broadcasters about $A127m.

CORPORATES
FREE TV AUSTRALIA LIMITED, COMMERCIAL RADIO AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY

Government considering $100m TV licence fee cuts

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 1-May-17

The Australian Government’s May 2017 Budget may include broadcasting licence fee relief for free-to-air TV networks. Options that are said to be under consideration include abolishing the existing revenue-based licence fee or replacing it with a flat fee. The licence fee reforms are intended to offset the impact of a proposed ban on gambling advertisements during live sports broadcasts. The anti-siphoning list may also be revised to compensate pay-TV groups for the loss of gambling ad revenue.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NICK XENOPHON TEAM, ONE NATION PARTY

Abolish TV licence fees, tax Google and Facebook: Xenophon

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Original article by Max Mason
The Australian Financial Review – Page: 17 : 26-Apr-17

The Australian Government’s May 2017 Budget is tipped to include a further reduction in TV broadcasting licence fees. Independent senator Nick Xenophon says the fees are "anachronistic" and should be scrapped for free-to-air networks. Xenophon supports increased restrictions on gambling advertisements during live sports broadcasts, but he rejects suggestions that he has struck a deal with the Government on the issue. Xenophon also favours imposing a turnover tax on Google and Facebook.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, ONE NATION PARTY

Robb joins fight over free-to-air licence fees

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Original article by Jake Mitchell
The Australian – Page: 23 : 9-Dec-16

The Ten Network’s remuneration report was rejected by 17.06 per cent of votes cast at the 2016 AGM. Ten is lobbying the Federal Government for a further reduction in TV broadcasting licence fees, but chairman David Gordon concedes that these efforts have had limited effect to date. Ten director Andrew Robb, who stepped down as trade minister earlier in 2016, says both major political parties recognise that local networks pay higher licence fees than their overseas peers. He adds that the government’s fiscal problems may be delaying reform.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, LIBERAL PARTY OF AUSTRALIA, WIN CORPORATION PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS

Diamond days as TV celebrates a jubilee

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Original article by Darren Davidson
The Australian – Page: 5 : 12-Oct-16

Industry executives and on-air presenters have joined politicians in marking the 60th anniversary of TV in Australia at Parliament House in Canberra. The event coincided with a decision by the Australian Labor Party’s caucus to support a proposed 25 per cent reduction in broadcasting licence fees for commercial TV and radio stations. Free TV Australia chairman Harold Mitchell notes that linear TV continues to be an important part of daily family life.

CORPORATES
AUSTRALIAN LABOR PARTY, FREE TV AUSTRALIA LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, OZTAM PTY LTD, NETFLIX INCORPORATED

Licence fee cut short of adequate: networks

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Original article by Jake Mitchell
The Australian – Page: 28 : 5-May-16

Macquarie Securities estimates that Nine Entertainment Company’s EBITDA will increase by $A10.9m due to the reduction in broadcasting licence fees in the Australian Government’s May 2016 Budget. The EBITDA of Seven West Media and Ten Network will rise by $A12.1m and $A7m respectively. Seven West CEO Tim Worner says the 25 per cent reduction in the annual licence fee is insufficient for commercial TV networks to remain competitive.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, MACQUARIE SECURITIES PTY LTD, NIKKO ASSET MANAGEMENT GROUP, STANDARD AND POOR’S ASX 200 INDEX, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

TV licence fees cut while ABC, SBS get extra funds

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Original article by Fleur Anderson
The Australian Financial Review – Page: B15 : 4-May-16

Communications Minister Mitch Fifield says a further reduction in free-to-air TV networks’ licence fees will be considered later in 2016. The annual licence fee was reduced by 25 per cent in the Australian Government’s May 2016 Budget. This will make the networks more competitive against streaming rivals such as Netflix, which are not subject to licence fees. The Budget also includes additional funding for the ABC and SBS.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NETFLIX INCORPORATED, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), APPLE INCORPORATED, NBN CO LIMITED

Slashed TV fee delivers windfall

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Original article by Jake Mitchell
The Australian – Page: 4 : 29-Apr-16

The office of Communications Minister Mitch Fifield has declined to comment on speculation that the Australian Government’s May 2016 Budget will include a reduction in TV broadcasters’ licence fees. Free-to-air networks have lobbied the Government in the lead-up to the Budget, and some media reports have suggested that it will agree to their request. Pay-TV group Foxtel has argued that any reduction in licence fees should be accompanied by changes to the anti-siphoning list for sports events.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, WIN CORPORATION PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, GOOGLE INCORPORATED, NETFLIX INCORPORATED

Media reform could be delayed until after budget, federal vote

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Original article by Max Mason
The Australian Financial Review – Page: 5 : 20-Apr-16

Federal Parliament is unlikely to sit again until 2 May 2016, ahead of the Australian Government’s Budget on 3 May. The Government is now expected to postpone proposed changes to cross-media ownership laws until after the double-dissolution election on 2 July, in order to focus on the Budget. Abolition of the "reach rule" and the "two-out-of-three rule" is still on the Government’s agenda, while the Ten Network has again called for broadcasting licence fees to be reduced in the Budget.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, PRIME MEDIA GROUP LIMITED – ASX PRT, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD