NEWSPAPER PUBLISHING – AUSTRALASIA

Fairfax and NZME to hash out new merger terms

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Original article by Max Mason
The Australian Financial Review – Page: 18 : 7-Mar-18

Fairfax Media hopes to successfully challenge the New Zealand Commerce Commission’s decision to block the proposed merger of its NZ business with NZME. The two companies will appeal against a court ruling which upheld the Commerce Commission’s May 2017 decision to block the deal on competition grounds. However, Fairfax and NZME have terminated a September 2016 merger implementation agreement, and they will negotiate a new deal if their appeal succeeds.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, STUFF LIMITED, NZME LIMITED – ASX NZM, NEW ZEALAND. COMMERCE COMMISSION, HIGH COURT OF NEW ZEALAND

Hywood seeks cuts as Fairfax print sales fall

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Original article by Dana McCauley
The Australian – Page: 17 & 21 : 22-Feb-18

Fairfax Media has posted a 2017-18 interim net profit of $A38.5m, which is 54 per cent lower than previously. Underlying net profit fell 10 per cent to $A76.3m and revenue was down four per cent at $A877m. The Australian Metro Media division’s print advertising revenue and circulation revenue were down 13.4 per cent and 3.9 per cent respectively. Fairfax reduced costs by 11 per cent during the half-year, and CEO Greg Hywood says the group will seek further cost cuts. He also says Fairfax will be open to mergers and acquisitions, while it intends to sell or discontinue 28 print publications in New Zealand.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, METRO MEDIA PUBLISHING PTY LTD, STUFF LIMITED, MACQUARIE MEDIA LIMITED – ASX MRN, STAN ENTERTAINMENT PTY LTD, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

APN, Fairfax fast track NZ news retreat

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Original article by Jake Mitchell
The Australian – Page: 19 & 22 : 12-May-16

APN News & Media has confirmed plans to dual-list its NZME business on the New Zealand and Australian sharemarkets, as well as a $A182m rights issue. APN has also advised that it is holding talks with rival Fairfax Media regarding a merger between NZME and the latter’s own New Zealand business. They aim to complete any such merger by the end of 2016, although it may face opposition from the NZ Commerce Commission.

CORPORATES
APN NEWS AND MEDIA LIMITED – ASX APN, NZME, FAIRFAX MEDIA LIMITED – ASX FXJ, NEW ZEALAND. COMMERCE COMMISSION, FACEBOOK INCORPORATED, GOOGLE INCORPORATED, MACQUARIE SECURITIES PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, CREDIT SUISSE (AUSTRALIA) LIMITED, UBS HOLDINGS PTY LTD

APN, Fairfax mulling NZ assets merger

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

APN News & Media will outline details of a proposal to spin off its New Zealand division at its AGM on 11 May 2016. The listed newspaper, radio broadcasting and outdoor advertising group also intends to undertake a capital raising worth up to $A200m. Meanwhile, Fairfax Media has downplayed speculation that it is also looking at demerging its NZ operations. However, Grant Samuel is said to have been commissioned to advise on a potential merger of the two groups’ NZ businesses. The firm is also advising APN on its demerger and capital raising.

CORPORATES
APN NEWS AND MEDIA LIMITED – ASX APN, FAIRFAX MEDIA LIMITED – ASX FXJ, NZME, FAIRFAX NEW ZEALAND LIMITED, GRANT SAMUEL AND ASSOCIATES PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, UBS HOLDINGS PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

APN is expected to demerge NZ business

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Original article by Jake Mitchell
The Australian – Page: 25 : 18-Apr-16

Australian-listed APN News & Media is believed to be planning to spin off its NZME division in New Zealand as a separately listed company. The group had been considering options such as an IPO or trade sale, but it is said to favour distributing shares in NZME to current stockholders. Andrew McLeod of Morgan Stanley values NZME at between $A134m and $A264m. APN first mooted selling or floating its New Zealand business in 2014.

CORPORATES
APN NEWS AND MEDIA LIMITED – ASX APN, NZME, MORGAN STANLEY AUSTRALIA LIMITED, CREDIT SUISSE AG, FIRST NZ CAPITAL EQUITIES LIMITED, FORSYTH BARR LIMITED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, ALLAN GRAY AUSTRALIA PTY LTD