News in shared digital strategy

Original article by Leo Shanahan
The Australian – Page: 19 : 8-Jun-20

News Corp Australia veteran Peter Blunden will head the media group’s new specialist network teams of journalists, which will produce content across its metropolitan, community and regional mastheads. He says the traditional ‘silo model’ of journalism is no longer relevant, and quality content must be shared across its portfolio of mastheads. Blunden has also defended the decision to adopt a digital-only model for some regional and community newspapers, arguing that the print editions were not sustainable.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Jobs go as Ten closes 10 Daily website

Original article by Lilly Vitorovich
The Australian – Page: 15 : 19-May-20

The Ten Network has advised that its 10 Daily news and entertainment website will be discontinued as part of the network’s integration with US parent company ViacomCBS. About 20 jobs are expected to be lost due to the closure of 10 Daily, although it is uncertain as to whether the broader integration strategy will result in more job cuts at Ten. ViacomCBS Australia’s chief content officer Beverley McGarvey has stressed the need for Ten to be "platform-agnostic".

CORPORATES
TEN NETWORK HOLDINGS LIMITED, VIACOMCBS INCORPORATED

V-shaped recovery unlikely: BHP

Original article by Nick Evans
The Australian – Page: 13 : 13-May-20

BHP CEO Mike Henry expects global demand for copper and steel to fall sharply in the wake of the coronavirus pandemic, while he warns that demand for oil may not return to pre-virus levels for at least 18 months. Henry has told a Bank of America conference that a V-shaped economic recovery is now unlikely, except in China, and he has signalled that BHP will further reduce exploration capital expenditure when its 2019-20 full-year results are released.

CORPORATES
BHP GROUP LIMITED – ASX BHP

News Corp set to ditch printed versions of regional papers

Original article by Max Mason, Sarah Thompson
The Australian Financial Review – Page: 15 : 13-May-20

Sources have indicated that News Corp Australia will shift to digital-only editions of some regional and community newspapers after negotiations to sell the business ended. News Corp launched a number of digital-only newspapers in 2018, with content that is produced by a local reporter being supplemented with stories from other newspapers in its portfolio. News Corp is believed to be considering this model for newspapers that will become digital-only.

CORPORATES
NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

FMG gives BHP nod at Port Hedland

Original article by Peter Ker
The Australian Financial Review – Page: 20 : 4-May-20

BHP and Fortescue Metals Group are both seeking to increase their iron ore export capacity at Port Hedland, by 14 per cent and 20 per cent respectively. Fortescue CEO Elizabeth Gaines says Port Hedland would be able to cope with increased shipments, although she stresses that applying for extra capacity does not necessarily mean that the iron ore giants will increase production and export volumes. Gaines also expects demand for iron ore to remain strong in China, as the nation’s urbanisation program fuels continued growth in steel production.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, BHP GROUP LIMITED – ASX BHP

BHP aims to lift Pilbara exports

Original article by Nick Evans
The Australian – Page: 20 : 29-Apr-20

BHP’s iron ore export capacity at Port Hedland is currently 290 million tonnes per annum, but the resources group will seek approval to lift this by up to 40 million tonnes. This could increase BHP’s revenue from its Pilbara operations by around $5bn a year, based on the current iron ore price of around $US80 per tonne. Hayden Bairstow of Macquarie says BHP could increase its Pilbara exports to 300mtpa without the need for ‘material’ capital expenditure. Fortescue Metals Group has also flagged plans to increase its Pilbara export volumes.

CORPORATES
BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, RIO TINTO LIMITED – ASX RIO, MACQUARIE GROUP LIMITED – ASX MQG

Media groups slash costs as advertising slump bites

Original article by Lilly Vitorovich
The Australian – Page: 15 : 7-Apr-20

Southern Cross Media Group CEO Grant Blackley says the fundamentals of its business remain sound, despite the impact of the pandemic on the advertising market. Southern Cross will seek to reduce costs by $40m-$45m in 2020, while the proceeds of a $169m equity raising will be used to reduce its $330.5m debt. The group has also advised that advertising revenue fell 10 per cent year-on-year in the nine months to 31 March. Rival radio stations group HT&E has also flagged cost cuts, including temporary salary reductions and reduced working hours for its staff.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, HT&E LIMITED – ASX HT1

Packaged beer the new normal for big brewers

Original article by Eli Greenblat
The Australian – Page: 17 : 31-Mar-20

Australian brewers have responded to the coronavirus-induced closure of the nation’s pubs by shifting their focus to producing beer in cans and bottles rather than kegs. Coopers Brewery’s MD Tim Cooper says kegs usually account for about 15 per cent of the family-owned firm’s volumes, but it is currently not producing any keg beer. He adds that Coopers’ sales in March have been 30 per cent higher than expected as consumers flock to liquor stores. Carlton & United Breweries and Lion are also focusing on the packaged beer market.

CORPORATES
COOPERS BREWERY LIMITED, CARLTON AND UNITED BREWERIES, LION PTY LTD

Nine targets $266m in cost cuts as virus hits

Original article by Lilly Vitorovich
The Australian – Page: 15 : 31-Mar-20

Nine Entertainment Company aims to reduce its costs by $266m in calendar 2020, including $102m in the first half. Amongst other things, the media giant expects its broadcasting division to achieve cost savings $130m if the entire NRL season is cancelled; this would be split across the 2019-20 and 2020-21 financial years. Nine has also advised that the coronavirus lockdown has prompted strong growth in subscriptions and usage of its Stan and 9Now streaming services.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, STAN ENTERTAINMENT PTY LTD, 9NOW

Rio zeroes in on lithium but copper may be next

Original article by Peter Ker
The Australian Financial Review – Page: 21 : 2-Mar-20

Rio Tinto has not made any major acquisitions under current CEO Jean-Sebastien Jacques. However, it has looked at more than 200 opportunities over the last three years, while its low level of debt means it is well-placed to pursue deals. Bold Baatar, the head of Rio Tinto’s energy and minerals division, says lithium has been its focus in terms of potential acquisitions. He adds that Rio Tinto is interested in other metals that are used in vehicle batteries, such as copper and high purity nickel.

CORPORATES
RIO TINTO LIMITED – ASX RIO