MASS MEDIA – AUSTRALIA

Buttrose move clears way for new ABC MD

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Original article by Max Mason
The Australian Financial Review – Page: 4 : 28-Feb-19

Media industry veteran Ita Buttrose has declined to comment on reports that she is set to succeed Justin Milne as the ABC’s chair. However, former ABC presenter Quentin Dempster says a new chair should not be appointed until the Senate concludes its inquiry into allegations of political interference at the public broadcaster. Centre for Media Transition director Peter Fray says Buttrose’s expected appointment means the ABC’s acting MD David Anderson is likely to be given the role permanently.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, CENTRE FOR MEDIA TRANSITION, WALKLEY FOUNDATION FOR JOURNALISM, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Morrison puts Ita in ABC’s hot seat

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Original article by Rosie Lewis, Greg Brown
The Australian – Page: 3 : 27-Feb-19

Senior federal government sources have confirmed that media industry veteran Ita Buttrose will succeed Justin Milne as the ABC’s chair. Cabinet is said to have approved her appointment and a formal announcement is likely within days. However, Labor leader Bill Shorten has accused the government of bungling the succession process, arguing that Buttrose was not on a shortlist of candidates for the role.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, KORN/FERRY INTERNATIONAL, TEN NETWORK HOLDINGS LIMITED, FAIRFAX MEDIA LIMITED, GILBERT AND TOBIN LAWYERS, HOLDING REDLICH, NEWS CORP AUSTRALIA PTY LTD, AUSTRALIAN GREENS

Buttrose wins backing for top ABC job

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Original article by Lilly Vitorovich, Greg Bright
The Australian – Page: 3 : 26-Feb-19

Prime Minister Scott Morrison says cabinet has yet to discuss the appointment of a successor to former ABC chairman Justin Milne. Amid growing speculation that media industry veteran Ita Buttrose will be given the role, some observers believe that her appointment would be inappropriate as she was not on the short-list compiled by Korn Ferry or considered by the independent nomination panel. However, former ABC chairman Donald McDonald is among those who believe that Buttrose would be a good choice for the role.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, KORN/FERRY INTERNATIONAL, AUSTRALIAN GREENS, COMMUNITY AND PUBLIC SECTOR UNION, TEN NETWORK HOLDINGS LIMITED, AUSTRALIAN LABOR PARTY, FAIRFAX MEDIA LIMITED, GILBERT AND TOBIN LAWYERS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, HOLDING REDLICH

Buttrose poised to head the ABC

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Original article by Kylar Loussikian, Bevan Shields, Jennifer Duke
The Age – Page: 1 : 25-Feb-19

Media industry veteran Ita Buttrose is tipped to succeed Justin Milne as the ABC’s chair. Communications Minister Mitch Fifield is expected to seek cabinet approval for her appointment in coming days, although a government spokesman has indicated that a decision has not yet been made. Buttrose has extensive experience in print and broadcast media, and she has held several directorships in the sector. She did not feature on an independent panel’s shortlist of candidates for the ABC role.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, AUSTRALIAN LABOR PARTY, FAIRFAX MEDIA LIMITED, NEWS CORP AUSTRALIA PTY LTD, GILBERT AND TOBIN LAWYERS, FILM VICTORIA, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED, AUSTRALIAN CONSOLIDATED PRESS, CHIEF EXECUTIVE WOMEN, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FINANCE

Nine chief upbeat as digital lifts earnings

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Original article by Lilly Vitorovich
The Australian – Page: 21 : 22-Feb-19

Nine Entertainment Company has posted a pro-forma net profit of $126m for the first half of 2018-19, which is five per cent higher than previously. EBITDA rose by six per cent to $252m, although revenue fell three per cent to $1.2bn. CEO Hugh Marks notes that broadcasting now accounts for 54 per cent of the group’s revenue, compared with 86 per cent prior to the merger with Fairfax Media. Nine’s shares closed 7.2 per cent higher at $1.57 on 21 February.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, STAN ENTERTAINMENT PTY LTD, MACQUARIE MEDIA LIMITED – ASX MRN, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, 9NOW, METRO MEDIA PUBLISHING PTY LTD, NINE.COM.AU, PEDESTRIAN

Fairfax regional papers to be sold by mid-year

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Original article by Lilly Vitorovich
The Australian – Page: 21 : 22-Feb-19

Nine Entertainment Company has advised that prospective buyers are undertaking due diligence on its Australian Community Media business, and a deal should be finalised by mid-2019. Formerly owned by Fairfax Media, ACM comprises more than 170 community and regional newspapers. Nine has also commenced the sale process for its New Zealand division, Stuff, as well as its events business.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, AUSTRALIAN COMMUNITY MEDIA, STUFF LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, ALLEGRO FUNDS PTY LTD, ANCHORAGE CAPITAL PARTNERS PTY LTD, PLATINUM EQUITY HOLDINGS, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA

Seven slashes debt, looks to banks’ ad spend

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Original article by Max Mason
The Australian Financial Review – Page: 23 : 20-Feb-19

Seven West Media has posted a 2018-19 interim underlying net profit of $91.8m, which is 7.8 per cent lower than previously. Revenue was 1.5 per cent lower at $797.4m. Seven has scaled back its full-year EBIT growth forecast to no more than five per cent at best. CEO Tim Worner says Seven was affected by the weaker advertising market, but he expects banks and insurers to increase their advertising expenditure in the wake of the Hayne royal commission. He adds that free-to-air TV is a compelling proposition for banks as they seek to rebuild trust in their brands.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, CCZ EQUITIES PTY LTD, AIRTASKER PTY LTD, HEALTHENGINE PTY LTD, SOCIETYONE AUSTRALIA PTY LTD

Stan tipped for subscriber lift from Disney deal

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 19-Feb-19

Fraser McLeish of MST Marquee expects subscription video-on-demand provider Stan to have enjoyed strong growth in its customer base over the 2018-19 summer, following its content deal with Walt Disney Company in December. Nine Entertainment Company will shortly release the first subscription data for Stan since August, when it had 1.1 million active subscribers. MST Marquee values Stan at $500m, and McLeish believes that the SVOD provider’s value is not being reflected in Nine’s share price.

CORPORATES
STAN ENTERTAINMENT PTY LTD, WALT DISNEY COMPANY, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MST MARQUEE, FAIRFAX MEDIA LIMITED, GRANT SAMUEL AND ASSOCIATES PTY LTD

Free TV calls for tax breaks for news production to curtail Google, Facebook

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Original article by Lilly Vitorovich
The Australian – Page: Online : 19-Feb-19

Free TV Australia CEO Bridget Fair has urged the Australian Competition & Consumer Commission to develop new regulations for digital platforms in the wake of its landmark inquiry into the sector. Amongst other things, Free TV suggests that digital platforms could be subject to undertakings to ensure that media companies are fairly paid for their content. The lobby group has also proposed the introduction of a tax offset for the production of local news and journalistic content.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Call for ABC to go back to basics

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Original article by Nick Tabakoff, Andrew White
The Australian – Page: 24 & 26 : 18-Feb-19

The process for recruiting a successor to the ABC’s former MD Michelle Guthrie has begun, with newspaper advertisements stating that the successful candidate will need to be a ‘strong collaborative leader’. Contenders for the role are said to include acting MD David Anderson, the ABC’s head of news Gaven Morris, former Foxtel CEO Kim Williams and former SBS MD Michael Ebeid. A former ABC executive says Anderson would be regarded as a safe choice as he has been at the public broadcaster for a long time and is highly respected within the ABC.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, FOXTEL MANAGEMENT PTY LTD, SPECIAL BROADCASTING SERVICE (SBS), NEWS LIMITED