RADIO STATIONS – AUSTRALIA

$80m deal: Singleton sells out of radio after 60-year career

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Original article by Zoe Samios
The Australian – Page: 1 : 23-Sep-19

Nine Entertainment Company’s hopes of gaining full ownership of Macquarie Media have been boosted after John Singleton advised that he will accept the offer of $1.46 per share unless a higher bid emerges. The advertising industry veteran has a 32.2 per cent stake in the owner of radio stations such as 2GB and 3AW, and he will gain about $80m from the transaction. Singleton says he may invest in the media sector in the future, but he adds that breeding horses and canaries are now his top priority.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD

Nine jumps on remaining Macquarie stake for $113.9m

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Original article by Max Mason
The Australian Financial Review – Page: 15 : 13-Aug-19

Nine has announced a $1.46 per share offer for the remaining 45.5 per cent of Macquarie Media that it does not already own, with Nine to pay around $114 million for the stake. Macquarie Media is the owner of radio stations 2GB in Sydney and 3AW in Melbourne. Businessman John Singleton, who owns 32.3 per cent of Macquarie Media, stands to receive $81 million if the deal goes through. Nine acquired its majority stake in Macquarie Media as a result of its $4 billion merger with Fairfax Media in 2018.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD

Radio star Jones fights to overturn gag order

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Original article by Charlie Peel
The Australian – Page: 1 & 2 : 14-Feb-19

A Brisbane court is hearing an application to lift an injunction that prevents veteran radio broadcaster Alan Jones from repeating imputations that prompted a record defamation payout in 2018. The Wagner family was awarded $3.75m in damages after the Supreme Court ruled that Jones had defamed them in a series of broadcasts on 2GB and 4BC. The Wagners’ lawyer has argued that the injunction simply prevents Jones from repeating the allegations and does not prevent him from discussing the case.

CORPORATES
2GB, RADIO 4BC BRISBANE PTY LTD, SUPREME COURT OF QUEENSLAND, COURT OF APPEAL (QUEENSLAND)

Nine holds its ground over Singo buyout

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Original article by Nick Tabakoff
The Australian – Page: 25 & 27 : 10-Dec-18

Nine CEO Hugh Marks says he has held talks with advertising industry veteran John Singleton about buying his 32 per cent stake in Macquarie Media. However, Marks has dismissed speculation that Nine will pay at least $2 per share to take full ownership of Macquarie in the wake of the merger with Fairfax Media. Marks also says Nine is committed to retaining the print editions of Fairfax’s key mastheads. He adds that the websites of Fairfax newspapers are likely to feature more of Nine’s video content, but Fairfax content will in turn largely continue to be exclusive.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, RADIO 4BC BRISBANE PTY LTD, DOMAIN HILL PROPERTY GROUP PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED

Catalano reveals plans for $800m Fairfax asset sales

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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

YouTube Music set to challenge fast growing Spotify and SoundCloud

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Original article by Roy Morgan
Market Research Update – Page: Online : 25-Jun-18

A Roy Morgan Single Source survey has found that more than five million Australians aged 14+ now visit radio or music sites in an average four weeks. The survey, which was carried out via face-to-face interviews in the year to March 2018, also shows that nearly 2.2 million Australians now visit Spotify in an average four weeks. This is followed by SoundCloud with over 1.3 million visitors in an average four weeks and Triple M with over 520,000 visitors to its site. Apple Music and Google Play Music both have just under 400,000 visitors in an average four weeks. Meanwhile, 95.8% of visitors to Spotify and 94% of visitors to Apple Music also visit YouTube. More than 15.2 million Australians now access YouTube in an average four weeks, and its entry into the streaming music industry via YouTube Music represents a major threat to established players in the sector.

CORPORATES
ROY MORGAN LIMITED, SPOTIFY LIMITED, SOUNDCLOUD, TRIPLE M CORPORATION PTY LTD, APPLE MUSIC, GOOGLE PLAY MUSIC, YOUTUBE INCORPORATED, YOUTUBE MUSIC

Triple J moves Hottest 100 from Australia Day

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Original article by Broede Carmody
The Age – Page: 3 : 28-Nov-17

Radio station Triple J will no longer count down its 100 top songs of the year on Australia Day, announcing on 27 November that it would move the Hottest 100 to the fourth weekend in January. Triple J stated a survey of listeners had found that 60 per cent had supported the change of date. The decision was initially prompted by an online petition started in August, with Triple J asked to move the Hottest 100 from Australia Day out of respect to Indigenous Australians. The Greens have welcomed the change, but federal Minister for Communications Mitch Fifield said he was "bewildered" by the change in date.

CORPORATES
TRIPLE J PTY LTD, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS

Macquarie Media lifts despite Jones absence

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Original article by Stephen Brook
The Australian – Page: 25 : 9-Aug-17

Macquarie Media has posted a 2016-17 after-tax profit of $A17.32m, which is 21 per cent higher than previously. Group revenue was two per cent lower at $A131.11m, which has been primarily attributed to a downturn in royalty and contra revenues. Macquarie’s revenue was also affected by an extended leave of absence by 2GB presenter Alan Jones on medical grounds. Shareholders will receive a fully franked final dividend of $A0.04 per share.

CORPORATES
MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, RADIO 2UE SYDNEY PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, SATELLITE MUSIC AUSTRALIA PTY LTD

Fairfax digs in over Singleton bid

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Original article by Mitchell Bingemann
The Australian – Page: 19 : 20-Jun-17

Fairfax Media will not allow businessmen John Singleton and Mark Carnegie to undertake due diligence on Macquarie Media, in which it holds a 54.5 per cent stake. Singleton and Carnegie, who collectively own more than 40 per cent of Macquarie, recently advised Fairfax that they are keen to acquire the radio stations group. Fairfax suitors TPG Capital and Hellman & Friedman are primarily interested in the target’s Domain property listings business.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE MEDIA LIMITED – ASX MRN, TPG CAPITAL LP, HELLMAN AND FRIEDMAN, DOMAIN.COM.AU, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Formal bids for Fairfax due in next fortnight with Domain the target

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Original article by Max Mason
The Australian Financial Review – Page: 15 : 19-Jun-17

Hellman & Friedman and TPG Capital may seek more time to undertake due diligence on Fairfax Media, although they may submit formal bids by the end of June. Fairfax has also advised that businessmen John Singleton and Mark Carnegie have expressed interest in acquiring its controlling stake in radio stations owner Macquarie Media. They had previously made an approach to buy Fairfax’s radio assets in 2012.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, HELLMAN AND FRIEDMAN, TPG CAPITAL LP, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, DOMAIN.COM.AU, CREDIT SUISSE (AUSTRALIA) LIMITED, GILBERT AND TOBIN LAWYERS, MACQUARIE CAPITAL PTY LTD, HERBERT SMITH FREEHILLS PTY LTD, KING AND WOOD MALLESONS, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, STAN ENTERTAINMENT PTY LTD