MASS MEDIA – AUSTRALIA

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

Date set for court to hear Ten deal

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Original article by Dana McCauley
The Australian – Page: 19 : 28-Sep-17

KordaMentha’s application to transfer shares in Ten Network to CBS Corporation will be heard by the Supreme Court of New South Wales on 31 October. The court has scheduled a three-day hearing on the application, which could potentially be opposed by Ten’s failed suitors Lachlan Murdoch and Bruce Gordon. They are said to be waiting for KordaMentha to file an independent expert’s report with the Australian ­Securities & Investments Commission before deciding whether to challenge Ten’s sale to the US media giant.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, SUPREME COURT OF NEW SOUTH WALES, KORDA MENTHA AND COLLEAGUES PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, NEWS CORPORATION – ASX NWS, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

Netflix hits new high in Australia – 7.6 million

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 28-Sep-17

A Roy Morgan Single Source survey shows that an estimated 7,558,000 Australians aged 14+ (37.7%) had subscription video-on-demand provider Netflix in the three months to June 2017, up from 4,453,000 (22.6%) in the March 2016 quarter. The growth in Netflix’s potential audience is the result of strong growth of household subscriptions to the SVOD in 2017, with 2,981,000 Australian homes (31.8%) now subscribed, up from 1,713,000 homes (18.6%) in the March 2016 quarter. In comparison, viewership in an average seven days of market-leading Network 7 fell 2.3% to 64.4%. Network 9 was down 4.1% to 60.1% and Network 10 dropped 1.7% to 50.4%. The results for the Government broadcasters were mixed, with viewership of the ABC down 3.3% to 56.3% while viewership of SBS rose 0.7% to 43.2%. Roy Morgan Research CEO Michele Levine says Roy Morgan has been measuring Netflix in Australia since its beginning just over two years ago and its exceptional growth over that period shows no signs of slowing down.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NETFLIX INCORPORATED, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS)

Seven under pressure over ‘toxic’ workplace culture

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 9 : 27-Sep-17

Media, Entertainment & Arts Alliance director Katelin McInerney says the Seven Network’s dismissal of Amy Taeuber demonstrates that media executives must be proactive in addressing the issue of harassment in the workplace. Seven has come under scrutiny in the wake of claims that Taeuber had been sacked after lodging a sexual harassment complaint. However, Seven has denied that this was the reason for her dismissal, which is believed to have been due to allegations that she made disparaging comments about reality-TV show contestants on a blog.

CORPORATES
SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, AUSTRALIAN BROADCASTING CORPORATION

Gordon plots as Ten creditors back CBS

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Original article by Darren Davidson
The Australian – Page: 19 & 26 : 20-Sep-17

WIN Corporation owner Bruce Gordon is considering his options after Ten Network’s creditors endorsed a takeover offer from CBS Corporation. Gordon could pursue further legal action, including a potential appeal after the Supreme Court of New South Wales rejected his bid to block the CBS deal. Meanwhile, Mark Korda of Ten administrator KordaMentha says the CBS deal is likely to be completed within 4-5 weeks. CBS secured the support of creditors after agreeing to increase the total value of its offer to $A209.7m, including upping the amount it will pay unsecured creditors from $A32m to more than $A40m.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, WIN CORPORATION PTY LTD, KORDA MENTHA AND COLLEAGUES PTY LTD, SUPREME COURT OF NEW SOUTH WALES, 21ST CENTURY FOX INCORPORATED, NEWS CORPORATION – ASX NWS, PPB ADVISORY, AUSTRALIAN TAXATION OFFICE

Gordon to appeal court ruling on Ten takeover

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Original article by Darren Davidson, John Durie
The Australian – Page: 17 & 28 : 19-Sep-17

The Supreme Court of New South Wales has ruled that the second meeting of Ten Network’s creditors can proceed on 19 September, after rejecting an application by Lachlan Murdoch and Bruce Gordon to have it postponed. They had argued that administrator KordaMentha did not fully consider their takeover offer for Ten when the firm endorsed the rival bid by CBS Corporation. Gordon is expected to lodge an appeal before the creditors’ meeting is held, which could further delay Ten’s sale. The court also rejected Gordon’s bid to prevent CBS from voting at the meeting.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, KORDA MENTHA AND COLLEAGUES PTY LTD, SUPREME COURT OF NEW SOUTH WALES, ILLYRIA PTY LTD, BIRKETU PTY LTD, WIN CORPORATION PTY LTD, 21ST CENTURY FOX INCORPORATED, PPB ADVISORY, NEWS CORPORATION – ASX NWS