MASS MEDIA – AUSTRALIA

Stokes questions merger logic

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Original article by Jemima Whyte
The Australian Financial Review – Page: 16 : 3-Nov-17

Seven West Media will reduce its costs by $A25m via staff cuts, as part of a broader strategy to slash its costs by $A105m over two years. Meanwhile, chairman Kerry Stokes has told shareholders that Seven has not held any merger talks with Fairfax Media or News Corp, and he suggested that merging a TV network with a print media company may offer few synergies. He also said Seven is trialling a combined TV and print newsroom in Perth, which could influence whether Seven pursues mergers or acquisitions in the media sector.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, NETFLIX INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, CGI GLASS LEWIS PTY LTD, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, ENERGY QUEENSLAND, HERBERT SMITH FREEHILLS PTY LTD

Fairfax goes it alone as investors back Domain split

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Original article by Dana McCauley
The Australian – Page: 21 : 3-Nov-17

The majority of Fairfax shareholders at its 2017 annual meeting voted in favour of demerging the Domain property listings business. Fairfax will retain a 60 per cent stake in Domain, while shareholders will receive one share in Domain for every 10 Fairfax shares that they own. Meanwhile, Fairfax CEO Greg Hywood has stressed that the company’s print newspapers will continue to be published for some time, while chairman Nick Falloon indicated that Fairfax would be open to merger deals following the relaxation of cross-media ownership laws.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, SEVEN WEST MEDIA LIMITED – ASX SWM, TRONC INCORPORATED, FEDERAL COURT OF AUSTRALIA

Digital news ad revenue climbs 8.5%, but print falls 14%

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Original article by Zoe Samios
Mumbrella – Page: Online : 2-Nov-17

Data from NewsMediaWorks shows that the Australian news media’s digital advertising revenue rose by 8.5 per cent year-on-year to $A119.6m in the September 2017 quarter. The rise in digital ad revenue coincided with the launch of revamped versions of major newspaper websites by Fairfax Media and News Corp Australia. Meanwhile, print advertising revenue was 14.3 per cent lower at $A365.1m and revenue from newspaper inserts was down 12.4% at $A17.3m. Programmatic ad revenue was 44.5% higher at $A12.1m.

CORPORATES
NEWSMEDIAWORKS, SMI MEDIA INCORPORATED, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

News Corp value down 50pc since spin-off four years ago

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Original article by Aaron Patrick
The Australian Financial Review – Page: 24 : 2-Nov-17

Morgan Stanley estimates that News Corporation is now valued at $US3.7bn, compared with $US7.3bn in 2013 when Rupert Murdoch’s media empire was demerged. News Corp shares have shed 17 per cent since the demerger, although the loss would have been much greater if it did not hold a 62 per cent stake in the strongly-performing Australian property listings group REA. Morgan Stanley also notes that News Corp shares are trading at a 15 per cent discount to the combined value of its businesses.

CORPORATES
NEWS CORPORATION – ASX NWS, MORGAN STANLEY AND COMPANY INCORPORATED, REA GROUP LIMITED – ASX REA, 21ST CENTURY FOX INCORPORATED, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS, HARPERCOLLINS, STANDARD AND POOR’S 500 INDEX, FAIRFAX MEDIA LIMITED – ASX FXJ

Fairfax clean bowled by Gayle force victory

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Original article by Sam Buckingham-Jones
The Australian – Page: 5 : 31-Oct-17

Fairfax Media has advised that it may appeal against a court ruling that it defamed West Indian cricket player Chris Gayle in a series of articles which claimed that he had exposed himself to a female masseuse. The four-person jury also found that Fairfax published the contentious articles out of malice. Amongst other things, Gayle had sought aggravated and special damages from the media company.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIAN BROADCASTING CORPORATION

Ten loses hits as Fox rips up deal

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Original article by Darren Davidson
The Australian – Page: 4 : 31-Oct-17

US media giant 21st Century Fox has formally terminated its program supply deal with the Ten Network, which will no longer be able to broadcast popular shows such as "The Simpsons" and "Modern Family". Ten had suspended broadcasts of Fox shows earlier in October after negotiations for a new content deal stalled. Court approval is the final hurdle for the acquisition of Ten by Fox rival CBS Corporation. Ten will present its 2018 "upfronts" in early November.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, 21ST CENTURY FOX INCORPORATED, CBS CORPORATION, MULTI CHANNEL NETWORK PTY LTD, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED

Exposing sources a ‘slippery slope’

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Original article by Dana McCauley
The Australian – Page: 26 : 30-Oct-17

The right of journalists to protect confidential sources of information is under scrutiny in the wake of revelations that a police raid on Australian Workers’ Union offices had been leaked to the media. The Nine Network’s chief political editor Chris Uhlmann says he would never reveal his sources, while the Seven Network’s chief political reporter Mark Riley stresses that there can be no exceptions to the Media Entertainment & Arts ­Alliance’s Journalist Code of Ethics.

CORPORATES
NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN FEDERAL POLICE, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, AUSTRALIA. DEPT OF EMPLOYMENT, BUZZFEED PTY LTD, SKY NEWS, AUSTRALIAN LABOR PARTY, GETUP LIMITED

Seven tries to gag reporter’s critical tweet

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Original article by Dana McCauley
The Australian – Page: 11 : 26-Oct-17

The Seven Network has declined to comment on claims that it has asked ex-employee Amy Taeuber to delete a tweet which directs Twitter users to an article she wrote for the MamaMia website. Lawyers have written to Taeuber on Seven’s behalf requesting the tweet’s removal. The article had been highly critical of Seven, and blamed unnamed female employees of the network for her dismissal after she made a sexual harassment complaint.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, MAMAMIA.COM.AU PTY LTD, AUSTRALIAN BROADCASTING CORPORATION

Metro radio drags on Southern Cross

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Original article by Darren Davidson
The Australian – Page: 19 : 25-Oct-17

Southern Cross Austereo has advised that revenue fell by two per cent year-on-year in the September 2017 quarter, due to the sale of a TV station in northern New South Wales. The group’s revenue was seven per cent lower on a reported basis, and its metropolitan radio stations posted a revenue decline of six per cent. However, its regional radio stations reported revenue growth of two per cent, and regional TV revenue was 3.5 per cent higher.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SOUTHERN CROSS AUSTEREO PTY LTD, PODCASTONE, HIT NETWORK, TRIPLE M CORPORATION PTY LTD, NINE NETWORK AUSTRALIA LIMITED

Telstra TV reboots streaming push

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Original article by Supratim Adhikari, Chris Griffith
The Australian – Page: 20 : 24-Oct-17

The new version of Telstra’s streaming video device provides access to free-to-air networks and their "catch-up" services, as well as subscription video-on-demand providers such as Netflix and Foxtel Now. Jo Pollard, Telstra’s head of media, says the Telstra TV2 device uses high efficiency video coding, so broadband speed limitations should not be an issue for users. Pollard adds that the proposal to merge Foxtel with Fox Sports will be a "net positive" for the telco, which will hold a 35 per cent stake in the merged entity.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, NETFLIX INCORPORATED, FOXTEL NOW, STAN ENTERTAINMENT PTY LTD, HAYU, BIGPOND MOVIES, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS