ABC goes begging as it pays execs 70pc more

Original article by Lilly Vitorovich
The Australian – Page: 3 : 17-Oct-19

The ABC’s latest annual report shows that its executive management team and board of directors received total remuneration of $6.1m in 2018-19, compared with $3.6m in 2017-18. The public broadcaster added two people to its executive ranks during the latest reporting period. MD David Ander­son was paid $1.14m in 2018-19, while predecessor Michele Guthrie received a $1.35m termination payout. The ABC has reported a 2018-19 net operating surplus of $38.3m.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Nine fights tech giants with new ad model

Original article by Max Mason
The Australian Financial Review – Page: 14 : 17-Oct-19

Nine Entertainment Company has used its annual ‘upfronts’ to reveal that it will adopt a cost per completed view model for advertising across its digital platforms. Clients will be charged only if a video ad is viewed in full. The move is aimed at technology giants Facebook and Google, which have attracted scrutiny over their own advertising policies. Nine has also advised that it has amalgamated the data that has been gathered across its digital platforms.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, YOUTUBE INCORPORATED, FAIRFAX MEDIA LIMITED

Southern Cross hit hard by sell-off

Original article by Lilly Vitorovich
The Australian – Page: 19 : 16-Oct-19

Southern Cross Media Group has advised that EBITDA for the first half of 2019-20 is expected to be within the range of $60m to $68m, compared with $82m for the same period in 2018-19. The group has also reported that revenue for the first quarter was 8.5 per cent lower than previously, due to challenging conditions in the advertising market. CFO Nick McKechnie says the group has no plans for further asset sales after selling its broadcast transmission assets in August.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, BROADCAST AUSTRALIA PTY LTD

Big stream of notes is music to the ears

Original article by Andrew McMillen
The Australian – Page: 4 : 11-Oct-19

APRA-AMCOS has reported record of revenue of $471.8m for 2018-19. The music rights management agency has advised that digital revenue – which includes both streaming audio and video services – rose 30 per cent in 2018-19, to $175.4m. APRA-AMCOS’s annual report also notes that there has been 4,265 per cent growth in audio streaming revenue since 2012-13, while live music revenue has risen from $16.6m in 2009-10 to $30m in 2018-19.

CORPORATES
AUSTRALASIAN PERFORMING RIGHT ASSOCIATION LIMITED, AUSTRALASIAN MECHANICAL COPYRIGHT OWNERS SOCIETY LIMITED, SPOTIFY LIMITED, APPLE MUSIC, FACEBOOK INCORPORATED, YOUTUBE INCORPORATED, INSTAGRAM LLC, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD

Call for tougher rules for big tech despite shift

Original article by Paul Garvey
The Australian – Page: 2 : 10-Oct-19

Australian Competition & Consumer Commission chairman Rod Sims has stressed the continued importance of a strong newspaper industry in the era of digital platforms. He says that although there are signs that technology giants such as Facebook and Google are starting to recognise the need to pay for news content, the ACCC and its overseas counterparts will keep pushing for greater regulation of the sector to ensure a level-playing field for traditional media companies.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, CAMBRIDGE ANALYTICA LLC, NEWS CORPORATION – ASX NWS, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA

Carnegie finally tunes out of Macquarie

Original article by Lilly Vitorovich
The Australian – Page: 17 & 28 : 8-Oct-19

Nine Entertainment Company has reached the 90 per cent threshold to compulsorily acquire Macquarie Media, after venture capitalist Mark Carnegie accepted the offer of $1.46 per share. Carnegie says he had no option other than agreeing to the Nine deal, and he adds that radio – and news talk radio in particular – is a powerful media that will be a good fit for Nine’s other media assets. Nine CEO Hugh Marks has also stressed the power of talk radio and says he is looking forward to working with the Macquarie team.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MACQUARIE MEDIA LIMITED – ASX MRN, WILSON ASSET MANAGEMENT, FAIRFAX MEDIA LIMITED

Streaming wars: Disney strips content from Foxtel

Original article by Max Mason
The Australian Financial Review – Page: 16 : 7-Oct-19

Pay-TV group Foxtel will revamp its movie channels package in response to the loss of content from the Walt Disney Company. Foxtel’s existing Disney Movie Channel will cease broadcasting on 7 November, ahead of the launch of the Disney+ subscription video-on-demand service on 19 November. The Disney and Disney Jnr channels will remain on Foxtel until at least the end of February. Meanwhile, Foxtel plans to launch its own drama and entertainment streaming service, while Stan owner Nine Entertainment is said to be in talks with Disney regarding a content deal.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, WALT DISNEY COMPANY, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, STAN ENTERTAINMENT PTY LTD, NETFLIX INCORPORATED

ACMA probes Gordon’s Prime shares

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

Mags next as Seven rings in changes

Original article by Zoe Samios
The Australian – Page: 23 : 7-Oct-19

Pacific ­Magazines may be the next casualty of Seven West Media’s restructuring under new CEO James Warburton, with reports that Seven is in talks to sell the business to Bauer Media. The two parties have declined to comment on the potential deal, which would have to be approved by the Australian Competition & Consumer Commission. Pacific Magazines’ revenue fell by 7.2 per cent in 2018-19, to $129.4m. About 180 jobs are expected to be cut at Seven West Media as part of the restructuring.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, PACIFIC MAGAZINES PTY LTD, BAUER MEDIA AUSTRALIA PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BAUER MEDIA KG

Nine to seal Macquarie deal as Carnegie sells out for $9m

Original article by Max Mason
The Australian Financial Review – Page: 19 : 4-Oct-19

Venture capitalist Mark Carnegie is believed to have agreed to sell his 3.6 per cent stake in Macquarie Media to Nine Entertainment Company. This would put Nine over the 90 per cent threshold for the compulsory acquisition of the radio stations owner. Wilson Asset Management chairman Geoff Wilson, who has a 4.7 per cent stake in Macquarie, is continuing to push for a better offer for small shareholders; he contends that Nine’s $1.46-per-share bid undervalues the target.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MACQUARIE MEDIA LIMITED – ASX MRN, WILSON ASSET MANAGEMENT