MASS MEDIA – AUSTRALIA

Nine gets claws into Fairfax as Catalano walks

roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 19 & 24 : 28-Nov-18

The Federal Court’s Justice Jacqueline Gleeson has approved the $4bn merger between Nine Entertainment Company and Fairfax Media. Former Domain CEO Antony Catalano has indicated that he is unlikely to appeal the decision, although he maintains that the deal undervalues Fairfax. Catalano had sought to challenge the merger with the financial backing of businessman Nick Bolton. Fairfax shares will be delisted on 29 November.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, STAN ENTERTAINMENT PTY LTD, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Guthrie’s $800k go-away payment

roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 3 : 27-Nov-18

The ABC has confirmed that former MD Michelle Guthrie received a termination payment when she was sacked in September. Although the ABC would not state the amount Guthrie received, a newspaper has confirmed that she was paid $800,000. Guthrie, who has filed an "adverse action" claim against the ABC in the Fair Work Commission, said at the time of her dismissal that there was no justification for it, and that she had been "devastated" by the ABC’s actions.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. FAIR WORK COMMISSION, JOHNSON WINTER AND SLATTERY

Kayo enters the streaming arena

roymorgansocial Leave a comment

Original article by Supratim Adhikari
The Australian – Page: 19 : 27-Nov-18

Participants in the beta-testing phase of Kayo Sports were generally positive about Foxtel’s new dedicated sports streaming video-on-demand service. Kayo Sports CEO Julian Ogrin says the subscription service was rigorously tested prior to its official launch, and he is confident that it will not experience the problems that plagued Optus’s live streams of the 2018 FIFA World Cup.

CORPORATES
KAYO SPORTS, FOXTEL MANAGEMENT PTY LTD, SINGTEL OPTUS PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, AMAYSIM AUSTRALIA LIMITED – ASX AYS, CRICKET AUSTRALIA, TELSTRA CORPORATION LIMITED – ASX TLS

Bolton backs Cat’s bid to halt Fairfax deal

roymorgansocial Leave a comment

Original article by Lilly Vitorovich
The Australian – Page: 17 & 28 : 27-Nov-18

Nine Entertainment Company and Fairfax Media will seek final approval by the Federal Court for their proposed merger on 27 November. It has been revealed that businessman Nick Bolton is one of the financial backers of a legal challenge to the merger that has been launched by former Domain CEO Antony Catalano. Bolton has a 49 per cent stake in Aurora Funds Management, which will join Catalano in his bid to block the deal. More than 81 per cent of Fairfax shareholders had voted in favour of the merger.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA, AURORA FUNDS MANAGEMENT LIMITED, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, BRISCONNECTIONS UNIT TRUSTS, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN STYLE INVESTMENTS PTY LTD, THIESS JOHN HOLLAND, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD

Fairfax or Ten: who’s the BOSS?

roymorgansocial Leave a comment

Original article by Nick Tabakoff
The Australian – Page: 27 : 26-Nov-18

Fairfax Media is taking legal action against the Ten Network over the latter’s recently-launched 10 BOSS multi-channel. Fairfax claims that it breaches the trademark of "BOSS" magazine, which is a monthly insert of "The Australian Financial Review". One intellectual property lawyer suggests that the action against Ten may be prompted by a desire by Nine Entertainment to use the BOSS brand across a wider range of media outlets following its merger with Fairfax.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, TEN NETWORK HOLDINGS LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Mitchell gets ready to return ASIC tennis deal serve

roymorgansocial Leave a comment

Original article by Ben Butler, John Stensholt
The Australian – Page: 2 : 22-Nov-18

Free TV Australia chairman Harold Mitchell has stepped down in the wake of legal action arising from his former role as a director of Tennis Australia. He has described the Australian Securities & Investments Commission’s allegations as false and has vowed to "vigorously defend" the legal action. ASIC alleges that Mitchell withheld information from TA’s board about potential bids for tennis broadcasting rights. The rights were awarded to the Seven Network, which has disputed ASIC’s claim that it had received confidential information from Mitchell about rival bids.

CORPORATES
FREE TV AUSTRALIA LIMITED, TENNIS AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, IMG AUSTRALIA, FEDERAL COURT OF AUSTRALIA

Give us financial freedom: ABC chief

roymorgansocial Leave a comment

Original article by Stephen Brook
The Australian – Page: 5 : 22-Nov-18

The ABC’s acting MD David Anderson says the public broadcaster’s independence has not been compromised. However, he has called for the ABC to have financial independence in addition to editorial independence, and he has called for an alternative to its current three-year funding cycle. The federal government’s May 2018 Budget effectively reduced the ABC’s funding by about $84m due to a three-year funding freeze. The ABC posted a loss of $71.2m in 2017-18.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Catalano reveals plans for $800m Fairfax asset sales

roymorgansocial Leave a comment

Original article by John Stensholt
The Australian – Page: 17 & 27 : 22-Nov-18

Former Domain CEO Antony Catalano has outlined his strategy for Fairfax Media if his legal challenge to its merger with Nine Entertainment Company succeeds. Catalano has proposed to divest the bulk of Fairfax’s assets, allowing it to focus on core assets such as its metropolitan mastheads and its controlling stake in Domain. Amongst other things, Catalano estimates that streaming video service Stan could fetch around $300m and Fairfax’s stake in Macquarie Media could be sold for at least $180m.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, STAN ENTERTAINMENT PTY LTD, MACQUARIE MEDIA LIMITED – ASX MRN, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, FEDERAL COURT OF AUSTRALIA, THORNEY OPPORTUNITIES LIMITED – ASX TOP, THORNEY TECHNOLOGIES LIMITED – ASX TEK, UPDATER INCORPORATED

Domain eyes summer of sport boost

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 18 : 21-Nov-18

Property listings group Domain Holdings will have a significant marketing presence on Australian TV during the 2018-19 summer. Domain will be the naming rights sponsor of cricket, which will be broadcast by the Seven Network for the first time. Domain is also expected to be marketed heavily on the Nine Network following the merger between Nine Entertainment Company and Fairfax Media, which is Domain’s largest shareholder. CEO Jason Pellegrino is confident that Domain can increase its reach outside its core markets of Sydney and Melbourne.

CORPORATES
DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, CRICKET AUSTRALIA, AUSTRALIAN OPEN TENNIS

Mitchell under pressure to quit Free TV after ASIC court action

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 18 : 21-Nov-18

Free TV Australia has declined to comment on the future of chairman Harold Mitchell, amid speculation that he may be forced to step down after the Australian Securities & Investments Commission launched legal action against him. ASIC’s civil action concerns Mitchell’s role as a former director of Tennis Australia, where he is alleged to have failed to advise the board that it was likely to secure more money if its TV broadcasting rights were put out to a competitive tender. Sources have suggested that Mitchell’s position at the TV industry lobby group may be untenable.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, TENNIS AUSTRALIA, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA