MASS MEDIA – AUSTRALIA

Ten teams up with Foxtel in F1 racing deal

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Original article by James Chessell, Dominic White
The Australian Financial Review – Page: 23 : 20-Nov-14

A new deal is about to be struck for the TV broadcasting rights in Australia to Formula One automobile racing. Insiders say free-to-air group Ten Network and pay TV provider Foxtel will jointly hold the rights after Ten’s current exclusive contract ends in late 2015. The price is tipped to be around $A30m per annum compared with $A10m now. Meanwhile it appears US-based media group Time Warner is no longer interested in a takeover of Ten, which remains a target of suitors Discovery Communications and Foxtel

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, TELSTRA CORPORATION LIMITED – ASX TLS, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, FORMULA ONE HOLDINGS LIMITED, FOX SPORTS AUSTRALIA PTY LTD, TIME WARNER INCORPORATED, DISCOVERY COMMUNICATIONS INCORPORATED, CITIGROUP PTY LTD

SBS ad boost ‘will cost networks $198m’

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Original article by David Crowe
The Australian – Page: 2 : 19-Nov-14

The Australian Subscription Television & Radio Association has criticised the Federal Government’s plan to allow more advertising on SBS. The public broadcaster will be able to show 10 minutes of ads per hour during prime time if the reforms proceed. Mark Pejic of MediaCom estimates that this will boost SBS’s revenue by $A198.7m over five years, largely at the expense of the free-to-air commercial networks

CORPORATES
SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIAN SUBSCRIPTION TELEVISION AND RADIO ASSOCIATION (ASTRA) INCORPORATED, MEDIACOM AUSTRALIA PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FREE TV AUSTRALIA LIMITED, WIN CORPORATION PTY LTD, SOUTHERN CROSS AUSTEREO PTY LTD, FOXTEL COMMERCIAL PRODUCTIONS, DISCOVERY CHANNEL, WALT DISNEY COMPANY, VIACOM AUSTRALIA, AUSTRALIA. DEPT OF COMMUNICATIONS, AUSTRALIA. DEPT OF FINANCE, AUSTRALIA. DEPT OF THE TREASURY

Former Ten chief Grant Blackley linked to US private equity bid

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Original article by Darren Davidson
The Australian – Page: 19 : 11-Nov-14

Ten Network and its advisor, investment banking firm Citi, are holding talks with potential takeover suitors. The free-to-air TV group may be taken private, and there is speculation that a possible bid by US-based private equity firm Hellman & Friedman also involves ex-Ten CEO Grant Blackley. The most likely acquirers however remain Australian pay-TV provider Foxtel and US ally Discovery Communications. Any purchaser of Ten will require the support of current board members and 40% shareholders Lachlan Murdoch, James Packer, Gina Rinehart and Bruce Gordon

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, DISCOVERY COMMUNICATIONS INCORPORATED, FOXTEL MANAGEMENT PTY LTD, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, CROWN RESORTS LIMITED – ASX CWN, WIN CORPORATION PTY LTD, CITIGROUP PTY LTD, HELLMAN AND FRIEDMAN CAPITAL PARTNERS, FAIRFAX MEDIA LIMITED – ASX FXJ, TOURANG LIMITED, CONSOLIDATED PRESS HOLDINGS LIMITED, RGM ARTISTS PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TIME WARNER (AUSTRALIA) PTY LTD, TIME WARNER INCORPORATED

Time Warner’s Ten play

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Original article by James Chessell, Sarah Thompson
The Australian Financial Review – Page: 1 & 34 : 10-Nov-14

It has been revealed that US media group Time Warner contacted Australia’s Ten Network about a potential takeover bid in early October 2014. The non-binding approach indicated that any bid by Time Warner’s cable TV arm would be pitched at $A0.25 per share and be conditional on the support of key Ten shareholders. Time Warner has also made overtures to Apollo Global Management to buy its stake in rival free-to-air broadcaster Nine Entertainment Company

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, TIME WARNER INCORPORATED, TURNER BROADCASTING SYSTEM INCORPORATED, APOLLO GLOBAL MANAGEMENT LLC, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, CITIGROUP PTY LTD, CROWN RESORTS LIMITED – ASX CWN, NEWS CORPORATION – ASX NWS, WIN CORPORATION PTY LTD, CABLE NEWS NETWORK, FOXTEL MANAGEMENT PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, DISCOVERY COMMUNICATIONS INCORPORATED, PROVIDENCE EQUITY PARTNERS INCORPORATED, HELLMAN AND FRIEDMAN, ANCHORAGE CAPITAL PARTNERS PTY LTD, VIACOM INCORPORATED, MTV MUSIC TELEVISION, CHANNEL 5 BROADCASTING LIMITED, LIBERTY GLOBAL INCORPORATED, ITV PLC, 21ST CENTURY FOX INCORPORATED, FAIRFAX MEDIA LIMITED – ASX FXJ

Murdoch’s bet on newspapers pays off: once silted, the river is flowing again

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Original article by Darren Davidson
The Australian – Page: 22 : 7-Nov-14

The first quarter 2014-15 net income of Australian-listed media group News Corporation has come in at $US65m ($A75m), up from $US27m previously. Revenue also grew 4% to reach $US2.15bn, and EBITDA rose 21% to $US170m. While the revenue of the print assets across the globe fell 3% to $US1.45bn, this was compensated for by the good performance of new digital ventures. The 62% stake held by News in online real estate classifieds business REA Group was a factor. On 6 November 2014 News stock closed $A1.12 higher at $A18.08

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, REA GROUP LIMITED – ASX REA, MOVE INCORPORATED, HARLEQUIN MILLS AND BOON, CITIGROUP PTY LTD

Ten brass to discuss bid by US media giant

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Original article by Dominic White, Jared Lynch, James Chessell
The Australian Financial Review – Page: 13/18 : 7-Nov-14

Investment banking firm Citi will advise Ten Network on bids by potential takeover suitors. Negotiations will start on 10 November 2014, and the most likely acquirer of the free-to-air TV group appears to be an alliance of pay TV provider Foxtel and US ally Discovery Communications. The speculation on 6 November lifted Ten’s share price by 7% to a close of $A0.23. Fairfax Media had also discussed a deal with Ten’s executives in October, but is now not expected to pursue the opportunity

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, FOXTEL MANAGEMENT PTY LTD, DISCOVERY COMMUNICATIONS INCORPORATED, CITIGROUP PTY LTD, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, CROWN RESORTS LIMITED – ASX CWN, WIN CORPORATION PTY LTD, DEUTSCHE BANK AG, ANCHORAGE CAPITAL PARTNERS PTY LTD, PROVIDENCE EQUITY PARTNERS INCORPORATED

Ten tie-up with Fairfax back in frame as Rinehart exits network’s board

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Original article by Darren Davidson
The Australian – Page: 19 : 4-Nov-14

Fairfax Media is in ongoing talks on a potential merger with free-to-air TV group Ten Network, and may divest its radio assets to entrepreneur John Singleton so as not to breach media ownership laws. A 14.99% stake in Fairfax is held by mining heiress Gina Rinehart, who also has 10% of Ten. However she is stepping down from the role of director on Ten’s board. The seat will be taken up by John Klepec, also chief development officer at Rinehart’s private Hancock Prospecting vehicle. Interest in a deal with Ten has come from pay TV business Foxtel as well

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS, MACQUARIE RADIO NETWORK LIMITED – ASX MRN, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, FAIRFAX RADIO NETWORK PTY LTD, HANCOCK PROSPECTING PTY LTD, CROWN RESORTS LIMITED – ASX CWN, WIN CORPORATION PTY LTD, MTV MUSIC TELEVISION, VIACOM INCORPORATED, CHANNEL 5 BROADCASTING LIMITED, ITV NETWORK LIMITED, ITV PLC, LIBERTY GLOBAL INCORPORATED, ROY HILL IRON ORE PTY LTD

Gittany’s girlfriend sues after site claims she was a stripper

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Original article by Michaela Whitbourn
The Sydney Morning Herald – Page: 8 : 29-Oct-14

A jury in the District Court of New South Wales will hear a defamation suit launched against news web site operator Daily Mail Australia. It is being brought by Rachelle Louise, the lover of convicted murderer Simon Gittany, over claims that she was the "world’s most deluded woman" and a former striptease artist. Barrister Roger Rasmussen is acting on behalf of Louise, who has been ordered by judge Judith Gibson to pay the Daily Mail Australia’s legal costs incurred for the preliminary hearing

CORPORATES
DAILY MAIL AND GENERAL TRUST PLC, DISTRICT COURT OF NEW SOUTH WALES

News Corp targets $1.85trn super pool

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Original article by Madeleine Heffernan
The Australian Financial Review – Page: 29 : 27-Oct-14

Investment platform provider OneVue has consented to an alliance with News Corp Australia, as the media group seeks to expand into new markets. It now aims to offer services for superannuation account holders, with the launch of its BrightDay product. The venture is to be managed by James Leplaw, GM of News Corp’s "Eureka Report" investor newsletter. The latter is part of the Australian Independent Business Media publishing business acquired by News Corp in mid-2012, but is believed to have suffered a drop in subscriber numbers

CORPORATES
NEWS CORPORATION – ASX NWS, ONEVUE HOLDINGS LIMITED – ASX OVH, NEWS CORP AUSTRALIA PTY LTD, AUSTRALIAN INDEPENDENT BUSINESS MEDIA PTY LTD, EUREKA REPORT PTY LTD, CLIME ASSET MANAGEMENT PTY LTD, PRIVATE MEDIA PARTNERS PTY LTD, CARNEGIE, WYLIE AND COMPANY PTY LTD, INVESTSMART FINANCIAL SERVICES PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, MORGANS FINANCIAL LIMITED

Rinehart aide ‘set to take Ten seat’

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Original article by Darren Davidson
The Australian – Page: 21 : 21-Oct-14

The stock of Ten Network on 20 October 2014 closed $A0.02 higher at $A0.22, on news of merger talks by the free-to-air TV group with Fairfax Media. The Hancock Prospecting vehicle of mining heiress Gina Rinehart owns stakes of 14.99% and 10% in Fairfax and Ten respectively. Her seat on the board of the latter may soon be transferred to her chief development officer, John Klepec. Rinehart is believed to be positively disposed toward a merger deal, despite doubts about Fairfax’s management capabilities in the TV sector

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, FAIRFAX MEDIA LIMITED – ASX FXJ, HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD, CMC MARKETS PTY LTD