STRATEGIC PLANNING – AUSTRALIA

Bauer targets Southern Cross

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Original article by Jake Mitchell, Darren Davidson
The Australian – Page: 23 : 23-Nov-15

Bauer Media is believed to be considering a takeover bid for Southern Cross Media Group in order to diversify its Australian business. Bauer approached rival radio group Nova Entertainment in 2014, but Nova has ruled out a sale. Southern Cross Media’s network of metropolitan and regional radio stations accounts for the bulk of its revenue, and Bauer is said to be keen to reduce its reliance on revenue from magazines. Bauer is the leading player in Europe’s radio sector.

CORPORATES
BAUER MEDIA KG, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SOUTHERN CROSS AUSTEREO PTY LTD, NOVA ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, MACQUARIE GROUP LIMITED – ASX MQG, MACQUARIE MEDIA LIMITED – ASX MRN, ACP MAGAZINES LIMITED, HIT NETWORK, TRIPLE M CORPORATION PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, ILLYRIA PTY LTD, AUSTRALIAN RADIO NETWORK PTY LTD, APN NEWS AND MEDIA LIMITED – ASX APN, NEWS CORPORATION – ASX NWS, KIIS1065, SMOOTHFM, ALLAN GRAY AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, WIN CORPORATION PTY LTD

BHP backs away from progressive dividend

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 8 : 20-Nov-15

BHP Billiton CEO Andrew Mackenzie has indicated that the resources group will review its progressive dividend policy in February 2016, when its financial results are released. However, chairman Jac Nasser says that BHP’s balance sheet is its top priority. The progressive dividend policy has come under scrutiny in the wake of a downturn in commodity prices and the tailings dam disaster at BHP’s jointly-owned iron ore project in Brazil.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, GLENCORE PLC

South32 reviews tailings dams after BHP’s Brazil disaster

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Original article by Amanda Saunders
The Australian Financial Review – Page: 21 : 19-Nov-15

South32 has told shareholders at its 2015 annual meeting that safety is a priority at its mining operations. CEO Graham Kerr said the BHP Billiton spin-off is undertaking a review of its own tailing dams in the wake of the fatal incident at BHP’s Samarco iron ore joint venture in Brazil. He has also indicated that South32 may commission an independent review of its tailings dams. South32 shares closed 3.1 per cent lower at $A1.24 on 18 November.

CORPORATES
SOUTH32 LIMITED – ASX S32, BHP BILLITON LIMITED – ASX BHP, SAMARCO MINERACAO SA

Marks ushers Nine into new viewing era

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Original article by Max Mason
The Australian Financial Review – Page: 30 : 16-Nov-15

Nine Entertainment Company is a "content business" rather than a traditional TV broadcaster, according to new CEO Hugh Marks. He has succeeded David Gyngell at a time when TV networks face growing competition from video-on-demand providers and a shift to multi-platform viewing. Nine has flagged a greater focus on local content in the next three years, after terminating a content deal with US-based Warner Bros, while it will begin live streaming of its TV channels in 2016.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WARNER BROS, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NETFLIX INCORPORATED, GOOGLE INCORPORATED, GROUPM COMMUNICATIONS PTY LTD, SINGTEL OPTUS PTY LTD, ENGLISH PREMIER LEAGUE, NATIONAL RUGBY LEAGUE, SOUTHERN STAR CORPORATION, ENDEMOL ENTERTAINMENT HOLDING NV, GENERAL ELECTRIC COMPANY, MEDIA VENTURE PARTNERS PTY LTD, RGM ARTISTS PTY LTD, AUSTRALIAN COMMUNICATIONS AND MEDIA AUTHORITY

Westpac to ramp up home loans, transaction accounts

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Original article by Clancy Yeates
The Australian Financial Review – Page: 13 & 16 : 9-Nov-15

The head of Westpac’s consumer banking arm, George Frazis, says his division aims to increase its customer base by 850,000 in coming years. The ambitious target is part of plans by CEO Brian Hartzer to gain an additional one million customers across Westpac’s operations by 2017. Frazis has signalled a push to increase home loan and transaction account customers. Westpac also aims to reduce its cost-to-income ratio from 43.8 per cent in 2014 to less than 40 per cent within three years.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, BANK OF MELBOURNE LIMITED, ST GEORGE BANK LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, RAMS HOME LOANS PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BELL POTTER SECURITIES LIMITED

ANZ calms the market on dividends fears

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Original article by Clancy Yeates, James Eyers
The Australian Financial Review – Page: 13 & 17 : 30-Oct-15

The ANZ Bank has posted a cash profit of $A7.2bn for 2014-15, which is one per cent higher than previously. However, its Australian division’s cash profit rose by seven per cent. The group’s return on equity fell from 15.4 per cent to 14 per cent in 2015-16, and CEO Mike Smith says it will abandon its goal of lifting this to 16 per cent. He has also stressed that ANZ will not reduce its dividend payout in order to offset the cost of complying with new capital requirements.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CITIGROUP PTY LTD, CADENCE CAPITAL LIMITED – ASX CDT, DEUTSCHE BANK AG, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Nine to launch new lifestyle channel and stream all channels online 24/7

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Original article by Max Mason
The Australian Financial Review – Page: 23 : 29-Oct-15

Nine Entertainment Company has used its annual "upfronts" to reveal plans to invest in Australian productions in 2016 after ending its content deal with US-based Warner Bros. Nine will also launch its fourth free-to-air channel on 26 November 2015, with 9Life to focus on lifestyle content. Meanwhile, the 9Jumpin catchup service will be replaced with a live streaming service called 9Now, which will include online streaming of Nine’s TV channels.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, WARNER BROS, SCRIPPS NETWORKS INCORPORATED, SPECIAL BROADCASTING SERVICE (SBS)

SeaLink and Rich Lister Little eye Melbourne ferry services

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Original article by Simon Evans
The Australian Financial Review – Page: 31 : 28-Oct-15

Australian-listed SeaLink Travel Group is examining the feasibility of operating passenger ferries from Wyndham, Portarlington and Williamstown to the Docklands precinct in Melbourne. The group is working on the proposal with property developer and former Toll Holdings CEO Paul Little. SeaLink operates ferry services in South Australia and New South Wales.

CORPORATES
SEALINK TRAVEL GROUP LIMITED – ASX SLK, TOLL HOLDINGS LIMITED, LITTLE PROJECTS PTY LTD, CAPTAIN COOK CRUISES TRAVEL PTY LTD, TRANSIT SYSTEMS PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Ten at last finding backbone

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Original article by Max Mason
The Sydney Morning Herald – Page: 19 : 27-Oct-15

Ten Network has posted a 2014-15 loss of $A312.2m, while its underlying EBITA loss was $A12m. CEO Paul Anderson notes that Ten’s audience share has reached a four-year high of 24.8 per cent in 2015. Ten’s share of advertising revenue rose to 22.2 per cent in September, and Anderson says Ten wants these two measures to reach parity. He has also ruled out live streaming of its three TV channels in the near-term, arguing that it is not commercially viable at present.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, SMI MEDIA INCORPORATED, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD

Mackenzie backs keeping London listing

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Original article by James Chessell
The Australian Financial Review – Page: 13 & 18 : 26-Oct-15

Proxy advisers are believed to have recommended that BHP Billiton shareholders vote in favour of a new dividend sharing policy at its 2015 Australian AGM. Some fund managers have suggested that the resolution could prompt BHP to rethink its dual-listed structure, but CEO Andrew Mackenzie says there are many advantages to being listed in both Australia and the UK. He argues that it reduces the cost of raising capital, while many of its institutional shareholders prefer to invest in the UK-listed shares.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, BILLITON PLC, NIKKO ASSET MANAGEMENT GROUP, OWNERSHIP MATTERS PTY LTD, CGI GLASS LEWIS PTY LTD, AUSTRALIAN COUNCIL OF SUPERANNUATION INVESTORS INCORPORATED, SOUTH32 LIMITED – ASX S32, BRAMBLES LIMITED – ASX BXB, TRANS-PACIFIC PARTNERSHIP