MASS MEDIA – 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

Mags next as Seven rings in changes

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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

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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

CEO shakes up Seven with new structure and job cuts

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Original article by Max Mason
The Australian Financial Review – Page: 15 & 18 : 3-Oct-19

The number of people who report directly to Seven West Media CEO James Warburton has been reduced from 17 to just eight as part of a broader restructuring at the group. Seven West Media will also hire three new executives, including the newly-created role of chief content officer. Seven will also streamline its operating divisions and shed staff as it seeks to reduce costs by about $20m in 2019-20. Warburton had flagged an overhaul at Seven West Media when he took the helm in August.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, FAIRFAX MEDIA LIMITED, TEN NETWORK HOLDINGS LIMITED

Nine closes in on Macquarie

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 2-Oct-19

Nine Entertainment Company has lifted its stake in Macquarie Media to 88.78 per cent, with its offer of $1.46 per share due to close on 14 October. The support of Wilson Asset Management and Mark Carnegie – with Macquarie stakes of 2.9 per cent and 3.6 per cent respectively – remain crucial to whether Nine passes the 90 per cent threshold to trigger compulsory acquisition. Macquarie broadcaster Alan Jones also has a one per cent stake in the company, and advertising veteran John Singleton expects him to accept the offer.

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

New era: News, Apple join forces

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Original article by Chris Griffith
The Australian – Page: 3 : 1-Oct-19

Apple’s subscription news service News+ will be launched in Australia on 1 October, with News Corp Australia to be the exclusive local provider of news content. News Corp CEO Robert Thompson said the media group is pleased to be partnering with a company which recognises that there should be a premium for "premium journalism" and which believes in the "profundity of provenance". He also claimed that Apple rival Google is more interested in hype and hypocrisy. Bauer Media and Pacific Magazines are also providing content to News+, which will cost $14.99 per month with a one-month free trial.

CORPORATES
APPLE INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, GOOGLE INCORPORATED, BAUER MEDIA AUSTRALIA PTY LTD, PACIFIC MAGAZINES PTY LTD

‘We’re here to help’ pledge challenged

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Original article by Zoe Samios
The Australian – Page: 23 : 30-Sep-19

Australia’s commercial free-to-air TV networks argue that regulation of digital giants such as Google and Facebook is necessary. Nine Entertainment’s group director of regulatory affairs, Clare Gill, has stressed the need for a regulated response from the federal government, to ensure a level playing field for traditional media companies and digital platforms. Ten’s COO Annabelle Hird has expressed concern that digital platforms’ behaviour will not change unless they are subject to a code of conduct or monitoring by the ACCC.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, CBS CORPORATION, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FAIRFAX MEDIA LIMITED, INTERNATIONAL NEWS MEDIA ASSOCIATION

Digital titans’ success comes at our expense

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Original article by Michael Miller
The Australian – Page: 23 & 25 : 30-Sep-19

The federal government’s response to the Australian Competition & Consumer Commission’s digital platforms inquiry must include legislative action to address the market power of technology platforms. The massive profits generated by these platforms are based on their unfair commercial exploitation of content from companies such as news publishers, and failure to address this issue will result in the loss of more jobs and valuable sources of information for many communities.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Giant loss nets Seven worst grand final rating in 18 years

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Original article by Zoe Samios
The Australian – Page: 23 & 25 : 30-Sep-19

Data from OzTAM shows that the Seven Network’s broadcast of the 2019 AFL Grand Final boasted a metropolitan audience of 2.197 million viewers, compared with 2.601 million in 2018. The nationwide audience fell from 3.378 million in 2018 to just 2.939 million. Richmond’s 89-point victory over the Greater Western Sydney Giants was the third-biggest winning margin in AFL/VFL history.

CORPORATES
AUSTRALIAN FOOTBALL LEAGUE, RICHMOND FOOTBALL CLUB, GREATER WESTERN SYDNEY FOOTBALL CLUB, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, OZTAM PTY LTD, STREEM PTY LTD, NATIONAL RUGBY LEAGUE, NINE NETWORK AUSTRALIA LIMITED, FOXTEL MANAGEMENT PTY LTD

News in call for curbs on big tech

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Original article by Andrew White
The Australian – Page: 1 : 30-Sep-19

News Corp Australasia executive chairman Michael Miller has called for legislative action to reign in the market power of digital platforms such as Google and Facebook. Amongst other things, he says such platforms should sign a mandatory code of conduct and be prohibited from using any publisher’s content unless they do so. Miller contends that technology platforms have been the biggest cause of damage to Australia’s media industry and Australians’ access to trusted and reliable content.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION