TELEVISION BROADCASTING – AUSTRALIA

Seven welcomes YouTube’s TV challenge

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Original article by Natasha Gillezeau
The Australian Financial Review – Page: 21 : 4-Dec-18

Seven West Media’s chief digital officer Clive Dicken is not unduly concerned about YouTube’s decision to provide free access to its original TV content. Dickens says traditional TV broadcasters are looking to adopt YouTube’s advertising-supported model for streaming video. He also notes that all forms of TV are growing, despite initial fears that subscription video-on-demand services would result in the demise of traditional broadcasters. YouTube’s premium content will be viewable for free on smart TVs from 2019.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, YOUTUBE INCORPORATED, NETFLIX INCORPORATED, HULU LLC

Don’t kill off mastheads, Nine warned

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Original article by Lilly Vitorovich
The Australian – Page: 24 & 26 : 3-Dec-18

David Kirk anticipates further consolidation in Australia’s media sector following the merger between Nine Entertainment Company and Fairfax Media. Kirk, who was Fairfax’s CEO from 2005 to 2008, has urged Nine to retain the media group’s metropolitan mastheads, arguing that they are still a valuable asset. Kirk expects the merger to generate some cost synergies, although he questions its benefits in terms of revenue and profit margins. The newly-enlarged Nine is slated to commence trading on 10 December.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, BAILADOR TECHNOLOGY INVESTMENTS LIMITED – ASX BTI, STAN ENTERTAINMENT PTY LTD, UBS HOLDINGS PTY LTD

End of an era: Fairfax bows out of the ASX

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 29-Nov-18

Shares in Fairfax Media rose 2.3 per cent to $0.66 on 28 November, before the stock was suspended from trading ahead of its delisting. Fairfax’s merger with Nine Entertainment Company is slated to be completed on 7 December, with the combined entity set to begin trading three days later. Fairfax had listed on the stock exchange in its present form in May 1992, with its shares closing at $0.9086 on debut.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FEDERAL COURT OF AUSTRALIA, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, AURORA FUNDS MANAGEMENT LIMITED, AUSBIL INVESTMENT MANAGEMENT LIMITED, FIL INVESTMENT MANAGEMENT LIMITED, MACQUARIE MEDIA LIMITED – ASX MRN

Nine gets claws into Fairfax as Catalano walks

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Original article by Lilly Vitorovich
The Australian – Page: 19 & 24 : 28-Nov-18

The Federal Court’s Justice Jacqueline Gleeson has approved the $4bn merger between Nine Entertainment Company and Fairfax Media. Former Domain CEO Antony Catalano has indicated that he is unlikely to appeal the decision, although he maintains that the deal undervalues Fairfax. Catalano had sought to challenge the merger with the financial backing of businessman Nick Bolton. Fairfax shares will be delisted on 29 November.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, STAN ENTERTAINMENT PTY LTD, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Bolton backs Cat’s bid to halt Fairfax deal

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Original article by Lilly Vitorovich
The Australian – Page: 17 & 28 : 27-Nov-18

Nine Entertainment Company and Fairfax Media will seek final approval by the Federal Court for their proposed merger on 27 November. It has been revealed that businessman Nick Bolton is one of the financial backers of a legal challenge to the merger that has been launched by former Domain CEO Antony Catalano. Bolton has a 49 per cent stake in Aurora Funds Management, which will join Catalano in his bid to block the deal. More than 81 per cent of Fairfax shareholders had voted in favour of the merger.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA, AURORA FUNDS MANAGEMENT LIMITED, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, BRISCONNECTIONS UNIT TRUSTS, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN STYLE INVESTMENTS PTY LTD, THIESS JOHN HOLLAND, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, MACQUARIE MEDIA LIMITED – ASX MRN, 2GB, 3AW SOUTHERN CROSS RADIO PTY LTD

Fairfax or Ten: who’s the BOSS?

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Original article by Nick Tabakoff
The Australian – Page: 27 : 26-Nov-18

Fairfax Media is taking legal action against the Ten Network over the latter’s recently-launched 10 BOSS multi-channel. Fairfax claims that it breaches the trademark of "BOSS" magazine, which is a monthly insert of "The Australian Financial Review". One intellectual property lawyer suggests that the action against Ten may be prompted by a desire by Nine Entertainment to use the BOSS brand across a wider range of media outlets following its merger with Fairfax.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, TEN NETWORK HOLDINGS LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Mitchell gets ready to return ASIC tennis deal serve

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Original article by Ben Butler, John Stensholt
The Australian – Page: 2 : 22-Nov-18

Free TV Australia chairman Harold Mitchell has stepped down in the wake of legal action arising from his former role as a director of Tennis Australia. He has described the Australian Securities & Investments Commission’s allegations as false and has vowed to "vigorously defend" the legal action. ASIC alleges that Mitchell withheld information from TA’s board about potential bids for tennis broadcasting rights. The rights were awarded to the Seven Network, which has disputed ASIC’s claim that it had received confidential information from Mitchell about rival bids.

CORPORATES
FREE TV AUSTRALIA LIMITED, TENNIS AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, IMG AUSTRALIA, FEDERAL COURT OF AUSTRALIA

Mitchell under pressure to quit Free TV after ASIC court action

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Original article by Max Mason
The Australian Financial Review – Page: 18 : 21-Nov-18

Free TV Australia has declined to comment on the future of chairman Harold Mitchell, amid speculation that he may be forced to step down after the Australian Securities & Investments Commission launched legal action against him. ASIC’s civil action concerns Mitchell’s role as a former director of Tennis Australia, where he is alleged to have failed to advise the board that it was likely to secure more money if its TV broadcasting rights were put out to a competitive tender. Sources have suggested that Mitchell’s position at the TV industry lobby group may be untenable.

CORPORATES
FREE TV AUSTRALIA LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, TENNIS AUSTRALIA, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, FEDERAL COURT OF AUSTRALIA

Court action looms after Fairfax shareholders vote for Nine merger

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Original article by
The New Daily – Page: Online : 20-Nov-18

Former Domain CEO Anthony Catalano has indicated that he will challenge the Nine Entertainment Company-Fairfax Media merger in court after 81.49 per cent of Fairfax shareholders voted in favour of the deal. Catalano had failed in a bid to have the shareholder vote delayed for two weeks to allow the Fairfax board to consider his alternative proposal. The merger will reduce the number of major media companies in Australia from five to four.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, STAN ENTERTAINMENT PTY LTD, MACQUARIE MEDIA LIMITED – ASX MRN, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS

Antony Catalano in dramatic bid to scupper Nine, Fairfax merger

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Original article by John McDuling, Jennifer Duke
The Sydney Morning Herald – Page: Online : 19-Nov-18

Domain’s former CEO Antony Catalano has asked Fairfax Media chairman Nick Falloon to adjoin the 19 November shareholders’ vote on the proposed merger with Nine Entertainment Company. The scrip component of Nine’s offer is 0.3627 per share; Catalano says this means it is a "terrible deal" given that Fairfax is trading at $0.61 per share, compared with $0.94 when the deal was announced. Catalano has also told Falloon that he may seek to buy up to 19.9 per cent of Fairfax shares at above market prices in order to block the deal. He holds stakes of about one per cent in both Fairfax and Domain.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD