MASS MEDIA – AUSTRALIA

FIRB tick for Ten takeover

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Original article by Dana McCauley
The Australian – Page: 19 : 24-Oct-17

CBS Corporation’s acquisition of the Ten Network has cleared a key hurdle, with the Foreign Investment Review Board advising that it will not oppose the deal. The Supreme Court of New South Wales is scheduled to commence a hearing on the deal in late October, and small shareholders David Gubbay and Yunfeng Du are expected to challenge the transfer of Ten’s shares to CBS.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, SUPREME COURT OF NEW SOUTH WALES, KORDA MENTHA AND COLLEAGUES PTY LTD, KPMG AUSTRALIA PTY LTD, 21ST CENTURY FOX INCORPORATED

League Cup leads Seven’s switch to tailor livestream viewer ads

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Original article by Max Mason
The Australian Financial Review – Page: 16 : 23-Oct-17

Seven West Media is expected to announce at least eight new TV shows at its annual "upfronts" on 27 October. The media group will also reveal plans to offer targeted advertising on the live streaming versions of its TV channels, which will allow viewers to see ads based on their preferences. The "addressable television" product will be launched with Seven’s coverage of the 2017 Rugby League World Cup. Meanwhile, Twitter will expand its live coverage of the Melbourne Cup Carnival in a deal with Seven and the Victoria Racing Club.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, TWITTER INCORPORATED, VICTORIA RACING CLUB LIMITED

TPG-News mulled sale of AFR

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Original article by Max Mason
The Australian – Page: 29 : 16-Oct-17

Fairfax Media’s former suitor TPG Capital approached News Corp about on-selling "The Australian Financial Review" if its takeover bid succeeded. The approach is believed to have been made before TPG submitted its first indicative bid for Fairfax, although the private equity firm eventually decided to retain all of Fairfax’s assets. Although TPG was primarily interested in the Domain property listings business, it ultimately submitted a $A2.7bn bid for the whole of Fairfax.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, TPG CAPITAL LP, DOMAIN.COM.AU, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, HELLMAN AND FRIEDMAN, MACQUARIE MEDIA LIMITED – ASX MRN, STAN ENTERTAINMENT PTY LTD, NOVA ENTERTAINMENT PTY LTD

CBS to take Ten as rivals submit

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Original article by Stephen Brook, Dana McCauley
The Australian – Page: 26 : 16-Oct-17

Lachlan Murdoch failed to lodge a legal challenge to the transfer of Ten Network’s shares to CBS Corporation by the deadline of 13 October, and Bruce Gordon is also believed to have not done so. News Corp Australasia executive chairman Michael Miller says Ten’s acquisition by the US media group now seems to be inevitable, and he has told the Radio Alive conference that News Corp would be willing to produce local content in partnership with CBS.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, 21ST CENTURY FOX INCORPORATED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, COMMERCIAL RADIO AUSTRALIA LIMITED, VIACOM INCORPORATED, CHANNEL 5 BROADCASTING LIMITED

Network Ten equity has no value, according to KPMG report

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Original article by Max Mason
The Australian Financial Review – Page: Online : 11-Oct-17

An independent expert’s report from KPMG has concluded that the Ten Network has an equity value of between negative $A529.2m and negative $A543.7m, or negative $1.055bn when the debt claims of CBS and 21st Century are taken into account. The negative valuation could make it harder for Lachlan Murdoch and Bruce Gordon to challenge the transfer of Ten’s shares to CBS Corporation. They will have a deadline of 13 October to decide whether to launch a legal challenge.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, KPMG AUSTRALIA PTY LTD, CBS CORPORATION, KORDA MENTHA AND COLLEAGUES PTY LTD, WIN CORPORATION PTY LTD, 21ST CENTURY FOX INCORPORATED

Ten report could spark challenge

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Original article by Dana McCauley
The Australian – Page: 24 : 9-Oct-17

Failed bidders for the Ten Network have until 13 October to challenge the transfer of its shares to US media giant CBS Corporation. A KPMG report to be released on 9 October may determine whether there will be a legal challenge to the CBS deal. The report concludes that Ten has negative net worth, but Lachlan Murdoch and Bruce Gordon are believed to have commissioned their own independent expert’s report which includes a positive valuation of Ten’s shares.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, KPMG AUSTRALIA PTY LTD, CBS CORPORATION, KORDA MENTHA AND COLLEAGUES PTY LTD, ILLYRIA PTY LTD, BIRKETU PTY LTD, 21ST CENTURY FOX INCORPORATED, VIACOM INCORPORATED, CHANNEL 5 BROADCASTING LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Fifield strikes back at ABC’s Guthrie

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Original article by Dana McCauley
The Australian – Page: 24 : 9-Oct-17

Communications Minister Mitch Fifield has defended the Federal Government’s move to make the ABC disclose the salaries of presenters who are paid more than $A200,000 and to require the public broadcaster to be "fair and balanced". He was responding to a speech by ABC MD Michelle Guthrie, in which she argued that changes to the ABC’s charter were not necessary and were politically motivated. The changes were part of a deal struck with One Nation to secure cross-media ownership reforms in the Senate.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, ONE NATION PARTY, TEN NETWORK HOLDINGS LIMITED – ASX TEN, BRITISH BROADCASTING CORPORATION

ABC pulls the plug on Lateline and The Link

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Original article by Stephen Brook
The Australian – Page: 5 : 6-Oct-17

The ABC has confirmed that current affairs program "Lateline" will not return in 2018. The show, which was first broadcast in 1990, will be replaced by a late-evening news bulletin. Current host Emma Alberici will become the public broadcaster’s chief economics correspondent. Weekly program "The Link" will also not be renewed, and host Stan Grant will take up the role of the ABC’s chief Asia correspondent. The ABC will redirect funding for these shows to its investigative unit and its team of specialist reporters.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION

Ten to give A-League ‘maximum exposure’

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Original article by John Stensholt
The Australian Financial Review – Page: 27 : 5-Oct-17

Ten Network hopes its coverage of A-League soccer will be as successful as its broadcasts of the Big Bash League domestic Twenty20 competition in recent years. Ten has committed to providing live coverage of one A-League match each week, beginning on 7 October, while it will also broadcast the A-League finals and grand final. The two-year deal to simulcast Fox Sports’ coverage will be the first the time that A-League matches have been broadcast on a commercial free-to-air network.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, THE A LEAGUE PTY LTD, BIG BASH LEAGUE, FOX SPORTS AUSTRALIA PTY LTD, CRICKET AUSTRALIA, CBS CORPORATION, MELBOURNE VICTORY FOOTBALL CLUB PTY LTD, SYDNEY FOOTBALL CLUB

Gordon snaps up Seven stake in Prime

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Original article by Darren Davidson
The Australian – Page: 19 & 30 : 29-Sep-17

Seven Group Holdings has sold 39 million shares in Prime Media Group to Birketu, the private investment vehicle of WIN Corporation owner Bruce Gordon. The $A15.6m transaction has assured Gordon of a key role in any media industry consolidation, given that he now has stakes of almost 15 per cent in Nine Entertainment Company and Prime, which is the regional affiliate of the Seven Network. Gordon had also been Ten Network’s largest shareholder prior to its collapse.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, BIRKETU PTY LTD, WIN CORPORATION PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, KORDA MENTHA AND COLLEAGUES PTY LTD, SUPREME COURT OF NEW SOUTH WALES, SEVEN WEST MEDIA LIMITED – ASX SWM, COATES HIRE LIMITED, NEWS CORPORATION – ASX NWS