Private equity funds size up regional titles

February 4, 2019roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 24 : 4-Feb-19

Allegro Funds, Anchorage Capital and Platinum Equity are said to be the leading contenders to acquire Nine Entertainment Company’s portfolio of regional newspapers, which it inherited via the merger with Fairfax Media. Independent expert Grant Samuel had valued Fairfax’s Australian Community Media division at $100m to $120m in 2018, and the business generates EBITDA of around $52m a year. Nine is also believed to be looking to sell Fairfax’s New Zealand business, Stuff.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, AUSTRALIAN COMMUNITY MEDIA, ALLEGRO FUNDS PTY LTD, ANCHORAGE CAPITAL PARTNERS PTY LTD, PLATINUM EQUITY HOLDINGS, STUFF LIMITED, RURAL PRESS LIMITED, APOLLO GLOBAL MANAGEMENT LLC, MACQUARIE CAPITAL PTY LTD, TPG CAPITAL LP, GRANT SAMUEL AND ASSOCIATES PTY LTD, JEFFERIES AND COMPANY, HT&E LIMITED – ASX HT1, NZME LIMITED – ASX NZM, MACQUARIE MEDIA LIMITED – ASX MRN

Ratings pain as tennis fails to shine for Nine

January 29, 2019roymorgansocial Leave a comment

Original article by Andrew White
The Australian – Page: 3 : 29-Jan-19

The Nine Network’s coverage of the 2019 Australian Open men’s final attracted an average national audience of 2.085 million. It was the lowest combined audience since 2007, while Seven attracted an audience of 2.37 million for its last men’s final broadcast in 2018. The women’s final attracted a combined average of 1.57 million. Nine spent $55m on its coverage of the 2019 Australian Open, and boasted advertising revenue of $45m. In contrast, Nine had spent $105m a year on broadcasting cricket, with ad revenue of $70m.

CORPORATES
NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, AUSTRALIAN OPEN TENNIS, SEVEN NETWORK LIMITED

UBS upbeat Foxtel is pressing right buttons on Kayo launch

January 24, 2019roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 21 : 24-Jan-19

Foxtel launched its Kayo Sports streaming video service in November, allowing consumers to access it without the need for a pay-TV subscription. UBS believes that Kayo Sports could enable Foxtel to increase its market penetration, which has remained at around 30 per cent for the last decade. The UBS analysts concede that Kayo is likely to cannibalise Foxtel’s subscriber base, but they say that this will be offset by increased revenue and gross margins as Foxtel’s overall market penetration rises.

CORPORATES
FOXTEL MANAGEMENT PTY LTD, KAYO SPORTS, UBS HOLDINGS PTY LTD, STAN ENTERTAINMENT PTY LTD, NETFLIX INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE

Tennis young guns draw in TV audiences

January 24, 2019roymorgansocial Leave a comment

Original article by Patrick Durkin, Alex Gluyas
The Australian Financial Review – Page: 5 : 24-Jan-19

The 2019 Australian Open has been a rating success for the Nine Network. Local hopeful Ash Barty attracted an average national audience of 1.59 million in a losing match on 23 January, outrating the Big Bash League. Likewise, an average of 1.4 million viewers nationwide watched Greece’s Stefanos Tsitsipas defeat Roger Federer in a major upset. Chinese and Japanese tennis players have also attracted huge audiences in their home countries, while Tennis Australia has secured sponsorship deals with a number of Chinese brands.

CORPORATES
AUSTRALIAN OPEN TENNIS, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, BIG BASH LEAGUE, TENNIS AUSTRALIA

ABC underpaid 2500 casual staff

January 11, 2019roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 8 : 11-Jan-19

The ABC will undertake a review into how it came to underpay around 2,500 casual employees over the last six years. The public broadcaster’s chief people officer Rebekah Donaldson says it has notified the Fair Work Commission about the issue, and that it is getting in contact with current and former casual employees who might have been affected. The underpayment error was brought to the ABC’s attention by the Community & Public Sector Union; the CPSU’s ABC section secretary Sinddy Ealy says it had been concerned for some time about the ABC’s over-reliance on and payment of casual staff.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. FAIR WORK COMMISSION, COMMUNITY AND PUBLIC SECTOR UNION, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, ACTU

Mogul Gordon grabs shares to increase stake in Nine

January 10, 2019roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 16 : 10-Jan-19

Australian businessman Bruce Gordon has lifted his direct stake in Nine Entertainment Company from 7.6 per cent to 8.9 per cent. Gordon has a total economic interest in Nine of about 13.4 per cent when a 4.5 per cent stake held via a cash-settled share swap is taken into account. Gordon’s stake in Nine had been diluted by its merger with Fairfax Media.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, BIRKETU PTY LTD, DEUTSCHE BANK AG, APOLLO GLOBAL MANAGEMENT LLC

Seven opens batting with cricket rating win

January 9, 2019roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 15 : 9-Jan-19

The Seven Network says ratings figures show that more than 14 million Australians watched its coverage of the Test cricket series against India. Seven boasted a 56 per cent share of daytime commercial television ratings during its coverage of the four-Test series. The ratings for Seven’s coverage of the Big Bash League are lower than the figures achieved by previous free-to-air broadcaster Ten. However, BBL ratings have risen when the combined coverage of Seven and Foxtel are taken into account.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, FOXTEL MANAGEMENT PTY LTD, BIG BASH LEAGUE, CRICKET AUSTRALIA, NINE NETWORK AUSTRALIA LIMITED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, KFC, VODAFONE AUSTRALIA LIMITED, OZTAM PTY LTD, REGTAM PTY LTD

Sign of the times as Fairfax goes

January 9, 2019roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 13 & 14 : 9-Jan-19

Nine Entertainment Company has confirmed that it is seeking a buyer for Fairfax Media’s events business, which has been valued at between $24m and $32m by Macquarie Group. Meanwhile, Nine has begun the process of phasing out the Fairfax Media brand; workers have used black plastic sheeting to cover the Fairfax signage on the newspaper publisher’s headquarters in the Sydney suburb of Pyrmont. Some Fairfax staff were recently relocated to Nine’s offices in the Sydney CBD in the wake of the $4.2bn merger.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, LOTUS DEVELOPMENT CORPORATION, EURO PROPERTIES, SYDNEY CITY COUNCIL, SPORTS MEDIA AND ENTERTAINMENT 360, NINE LIVE PTY LTD, AFFINITY EQUITY PARTNERS (AUSTRALIA) PTY LTD, GOOGLE AUSTRALIA PTY LTD

Pacific making all the write moves

January 7, 2019roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 13 & 14 : 7-Jan-19

Seven West Media’s Pacific Magazines division posted EBIT of $9.6m in 2017-18, and it reduced costs by $32.2m. Pacific Magazines CEO Gereurd Roberts is upbeat about the outlook for its portfolio of titles, noting that it is the market leader in every category in which it has a presence. He adds that content is the priority for Pacific Magazines, while it aims to expand its digital business. Gereurd has also flagged the launch of a new monthly magazine in late January.

CORPORATES
PACIFIC MAGAZINES PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, BAUER MEDIA AUSTRALIA PTY LTD

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