MASS MEDIA – AUSTRALIA

Don’t believe Google, this monopoly is not journalism’s friend

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Original article by Michael Miller
The Australian Financial Review – Page: 37 : 31-May-17

Google Australia MD Jason Pellegrino claims that news publishers can withdraw their content from Google News and Google Search at any time. Google’s 95 per cent share of the search market in Australia means that this is not an option. This market dominance means that local publishers are highly dependent on Google to distribute their free content and drive traffic to their websites. Meanwhile, Google is seeking to deter publishers from offering subscriber-only content, as this affects its own advertising revenue. Media reforms are necessary to ensure a level playing field for local news publishers.

CORPORATES
GOOGLE AUSTRALIA PTY LTD, GOOGLE INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Australians say ‘No’ to 100% foreign ownership of Fairfax

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-May-17

An Australia-wide Roy Morgan Survey has found that 78% of Australians aged 14+ do not want Fairfax Media to be 100% owned by either of the two overseas owned institutions that have lodged multi-billion dollar bids for the company. Meanwhile, 17% of Australians say that overseas-owned institutions should be allowed to buy Fairfax outright. The survey, which was conducted from 22-24 May 2017, also shows that 53% of Australians are in favour of allowing overseas-based institutions to own a minority stake in Fairfax. A larger majority of L-NP supporters (59%) are in favour of this option for Fairfax than ALP supporters (51%). The survey has also found that the internet is now the main source of information for 51% of Australians, compared to 24% for TV and 12% for both newspapers and radio.

CORPORATES
ROY MORGAN RESEARCH LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, TPG CAPITAL LP, HELLMAN AND FRIEDMAN

Second bid pleases Fairfax shareholders

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Original article by Max Mason
The Australian Financial Review – Page: 31 : 22-May-17

Dealogic notes that the two rival bids for Fairfax Media are the largest takeover offers for any publisher worldwide so far in 2017. Allan Gray Australia MD Simon Mawhinney has welcomed Fairfax’s decision to allow TPG Capital and Hellman & Friedman to undertake due diligence. However, neither suitor is likely to make a formal bid before 30 June. TPG Australia boss Joel Thickins has told a Senate committee that the private equity firm will expand the Fairfax business and retain its charter of editorial independence.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, TPG CAPITAL LP, HELLMAN AND FRIEDMAN, ONTARIO TEACHERS’ PENSION PLAN, ALLAN GRAY AUSTRALIA PTY LTD, CONTANGO ASSET MANAGEMENT LIMITED – ASX CGA, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED, MACQUARIE CAPITAL PTY LTD, DOMAIN.COM.AU

More husbands than wives call the shots on Pay TV, and only 1 in 2 Aussie couples decide together

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-May-17

A Roy Morgan Single Source survey has found that half of Australia’s married or de facto couples have at least one subscription or pay TV service in their home. In 50 per cent of these homes, the decisions about whether, when and which provider were made together. The survey, which was carried out in the year to December 2016, also shows that in 30 per cent of cases, the man decided, while the woman did so in 20 per cent. Meanwhile, films are the number one content of interest to both husbands and wives with subscription or pay TV in the home. Overall 60 per cent say they are "very" or "quite" interested in watching new release or older films, ahead of News & Current Affairs and Documentaries, which are each of interest to 52 per cent of couples.

CORPORATES
ROY MORGAN RESEARCH LIMITED

More Australians are reading magazines – they just don’t need to own a copy

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-May-17

Roy Morgan has released the latest Australian Magazine Readership results for the 12 months to March 2017, showing an overall increase in magazine readership despite recent downward trends in circulation. Some 12.6 million Australians aged 14+ (63.4 per cent) read print magazines, the latest data for the 12 months to March 2017 shows – up 2.4 per cent compared with the year before. Australians are spending more on experiences and less on physical things, and this includes magazines. For magazines, the decline in circulation declines reflects the decrease in physical ownership of issues. Readership, however, has not followed the same downward trend. Instead, magazine readership overall – as well as engagement with a number of categories – has been comparatively stable, demonstrating that although Australians are showing less of a need to own magazines, they remain highly engaged with magazine content.

CORPORATES
ROY MORGAN RESEARCH LIMITED

Stand out performances by AFR, The Australian and Herald Sun

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 12-May-17

Roy Morgan Research has released the latest Readership results for Australian Newspapers for the 12 months to March 2017, showing that the cross-platform audience is steady overall thanks to the continuing transition of print readers to digital platforms. Across print and digital, 12,959,000 Australians 14+ (65 per cent) accessed cross-platform newspaper mastheads in the 12 months to March 2017. Australians are spending more on experiences and less on physical things, and this includes newspapers. Many industries – from retail to automotive to media – are witnessing a move away from traditional forms of "ownership". For Fairfax Media, 83 per cent of the audience is now using digital platforms, with just 34 per cent touching a print copy. For News Corp, digital reach finally surpassed print a year ago, and today 64 per cent of the audience reads via website or app – and, for the first time, only half (50 per cent) are reading in print.

CORPORATES
ROY MORGAN RESEARCH LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Reform package boosts shares

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Original article by Darren Davidson
The Australian – Page: 24 : 9-May-17

The Federal Government’s latest media reform proposals prompted a rally in the share prices of listed media groups on 8 May 2017. In addition to abolishing the "reach rule" and the "two out of three rule", the Government plan to replace TV broadcasting licence fees with an annual spectrum fee and ban gambling advertisements during live sports broadcasts prior to 8:30pm. Macquarie Group says the proposed reforms are positive for TV networks.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, MACQUARIE GROUP LIMITED – ASX MQG, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, WIN CORPORATION PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS, APN NEWS AND MEDIA LIMITED – ASX APN, TPG CAPITAL LP, FACEBOOK INCORPORATED, GOOGLE INCORPORATED

TPG bid ‘cherry-picks’ Fairfax assets

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Original article by Max Mason, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 1 & 14 : 9-May-17

Legg Mason Martin Currie’s Patrick Potts says TPG Capital should make a takeover offer for all of Fairfax Media’s assets. TPG and the Ontario Teachers’ Pension Plan have made an indicative offer of $A0.95 per share for the Domain property listings business, Fairfax’s three flagship newspapers, and its events and digital ventures. Potts believes the $A2.2bn offer undervalues the assets that the TPG-led consortium wants to buy, while he adds that Fairfax shareholders would be left with "structurally challenged assets" whose value is difficult to determine.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, TPG CAPITAL LP, ONTARIO TEACHERS’ PENSION PLAN, DOMAIN.COM.AU, LEGG MASON MARTIN CURRIE, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, ALLURE MEDIA PTY LTD, THE HUFFINGTON POST, MACQUARIE MEDIA LIMITED – ASX MRN, STAN ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, DEUTSCHE BANK AG, FAIRFAX NEW ZEALAND LIMITED, NZME LIMITED – ASX NZM, NEW ZEALAND. COMMERCE COMMISSION, PLATINUM EQUITY HOLDINGS, APN NEWS AND MEDIA LIMITED – ASX APN, FETCH PLUS INCORPORATED PTE LTD

Journalist cuts ‘will help drive Fairfax profits’

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Original article by Scott Murdoch
The Australian – Page: 4 : 5-May-17

Fairfax Media CEO Greg Hywood says back-office functions rather the editorial department have borne the brunt of its cost-cutting over the last five years. Hywood also says the latest round of redundancies will be the last, and he argues that Fairfax’s newspapers must be both profitable and sustainable in the long-term. Fairfax journalists hope that shareholders and advertisers will support their seven-day strike in response to the latest downsizing, which will result in the loss of 125 newsroom jobs.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIA. FAIR WORK COMMISSION

Fairfax journos strike as one in four jobs cut

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Original article by Stephen Brook, Mitchell Bingemann, Brad Norington
The Australian – Page: 6 : 4-May-17

A Fairfax Media spokesman says the print and digital editions of "The Age" and "The Sydney Morning Herald" will continue to be produced during industrial action. Fairfax journalists have commenced a seven-day strike in response to Fairfax’s measures to reduce costs by an additional $A30m. This will include a downsizing of its newsroom staff, initially via voluntary redundancies. Some 125 jobs will be cut, which equates to about 25 per cent of Fairfax’s journalists.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIA. FAIR WORK COMMISSION, NATIONAL PRESS CLUB (AUSTRALIA), NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS