TELEVISION BROADCASTING – AUSTRALIA

Seven West tightens belt in slow ad market

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Original article by Lilly Vitorovich, Stephen Brook
The Australian – Page: 21 : 15-Nov-18

Seven West Media has advised that its net cost savings for 2018-19 will be within the range of $20m to $30m, compared with previous guidance of $10m to $20m. CEO Tim Worner says Seven will seek to capitalise on any opportunities that arise from the proposed merger between Nine Entertainment and Fairfax Media. Meanwhile, chairman Kerry Stokes has told Seven’s AGM that foreign digital platforms continue to have an advantage over traditional media companies in competing for advertising revenue.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, CRICKET AUSTRALIA, BIG BASH LEAGUE, FOXTEL MANAGEMENT PTY LTD

Fairfax within reach as Nine sticks to script

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Original article by Lilly Vitorovich
The Australian – Page: 17 & 21 : 15-Nov-18

Shareholders at Nine Entertainment Company’s AGM have been told that it will be better placed to compete with digital giants for advertising revenue if the merger with Fairfax Media proceeds. Nine chairman Peter Costello and CEO Hugh Marks expect Fairfax shareholders to approve the deal on 19 November, saying the feedback from Fairfax directors and investors has been positive. Costello has also stressed that Nine will retain all of Fairfax’s brands. Meanwhile, Nine has advised that it still expects 2018-19 earnings to be within the range of $280m to $300m.

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, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, OWNERSHIP MATTERS PTY LTD, CGI GLASS LEWIS PTY LTD, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION, CITIGROUP PTY LTD, NETFLIX INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Nine-Fairfax deal has investor support

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Original article by Max Mason
The Australian Financial Review – Page: 34 : 12-Nov-18

Fairfax Media’s merger with Nine Entertainment Company will require the support of at least 75 per cent of votes cast at the newspaper publisher’s meeting of shareholders on 19 November. The Australian Council of Superannuation Investors and leading proxy advisors are said to support the merger, although the proposed deal has been criticised by the Media, Entertainment & Arts Alliance. The merger is also subject to approval by the Federal Court.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, STAN ENTERTAINMENT PTY LTD, AUSTRALIAN INSTITUTE OF SUPERANNUATION TRUSTEES, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, CGI GLASS LEWIS PTY LTD, OWNERSHIP MATTERS PTY LTD, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FEDERAL COURT OF AUSTRALIA

Fairfax, Nine deal set to get the nod

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 8-Nov-18

Brian Han of Morningstar expects the proposed merger between Nine Entertainment Company and Fairfax Media to receive regulatory approval on 8 November. Han says the Australian Competition & Consumer Commission is likely to take into account the impact of digital on traditional media when deciding whether to approve the $4bn deal. Nine Entertainment posted a 2017-18 net profit of $209.7m, while Fairfax made a loss of $63.8m.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, MORNINGSTAR PTY LTD, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE, MST MARQUEE, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, STAN ENTERTAINMENT PTY LTD, MACQUARIE MEDIA LIMITED – ASX MRN, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

CBS tries to find Ten’s inner wild child

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Original article by Lilly Vitorovich
The Australian – Page: 7 : 1-Nov-18

Ten Network has used its annual "upfronts" to launch a new logo and the rebranding of its secondary channels. ONE will be rebadged as 10 Boss, with a focus on US dramas and sport, and a target audience of men and women over the age of 40. Eleven in turn will be renamed 10 Peach, targeting the 16-to-39 age demographic. Ten will also launch a subscription video-on-demand service in December, offering a large library of content.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, CBS CORPORATION

Seven West prepares to face its cricket test

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Original article by Stephen Brook
The Australian – Page: 24 & 26 : 29-Oct-18

Seven West Media CEO Tim Worner expects the Seven Network’s cricket coverage to boost its ratings in December, which is traditionally a challenging month for the network. He is confident that the $450m broadcasting rights deal will quickly prove its worth. Seven’s cricket coverage was a highlight of the network’s annual "upfronts", which it used to showcase new and returning programs, as well as the launch of 7food network. Seven West’s director of sales Natalie Harvey stresses that the new multichannel will target a different audience to SBS’s Food Network.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, FOXTEL MANAGEMENT PTY LTD, NINE NETWORK AUSTRALIA LIMITED, AUSTRALIAN OPEN TENNIS, SPECIAL BROADCASTING SERVICE (SBS), YAHOO!7 COMMUNICATIONS AUSTRALIA PTY LTD, YAHOO! INCORPORATED, OATH, DISCOVERY COMMUNICATIONS INCORPORATED

Sky’s the limit as News, Nine launch Your Money channel

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Original article by Stephen Brook
The Australian – Page: 21 : 24-Oct-18

Sky News and the Nine Network officially launched the new Your Money joint venture TV channel on 23 October. Your Money replaces Sky News Business on the Foxtel platform, while it has enabled Sky News owner Australian News Channel to broaden its reach beyond pay-TV. The Nine Network broadcasts Your Money on one of its digital channels, as well as its 9Now streaming service. Sky News content is also broadcast in regional areas via a separate alliance with WIN Corporation.

CORPORATES
SKY NEWS, AUSTRALIAN NEWS CHANNEL PTY LTD, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FOXTEL MANAGEMENT PTY LTD, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, WIN CORPORATION PTY LTD

Seven and News explore co-pros and marketing

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Original article by Max Mason
The Australian Financial Review – Page: 28 : 22-Oct-18

Seven West Media and News Corp Australia have a history of co-productions and marketing initiatives, and they are looking at further projects in these areas. A spokesperson for Seven notes that the two companies have been involved in marketing initiatives in the past, while it produced "A Place Called Home" for Foxtel for four seasons. Seven and News also work together in Western Australia, where Seven prints some of News Corp’s papers. Seven CEO Tim Worner said in August that it and News Corp would seek to strengthen their commercial ties following the announcement that Nine Entertainment would merge with Fairfax Media.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FOXTEL MANAGEMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ

Fairfax’s Falloon keeps faith in Nine deal

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Original article by Lilly Vitorovich
The Australian – Page: 19 : 16-Oct-18

Shares in Nine Entertainment Company fell 12.4 per cent to $1.84 on 12 October. Citigroup analysts say this has eliminated the merger premium for Fairfax shareholders, and they have questioned whether the deal will proceed under the agreed terms. However, Fairfax chairman Nick Falloon says the merger is still "compelling", while Fraser McLeish of MST Marquee believes that the merger is in the best interests of Fairfax shareholders.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, CITIGROUP PTY LTD, MST MARQUEE, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, MEDIA, ENTERTAINMENT AND ARTS ALLIANCE

Nine, Fairfax cuts won’t hit newsrooms

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Original article by Max Mason
The Australian Financial Review – Page: 27 : 15-Oct-18

Grant Samuel & Associates has deemed Fairfax Media’s proposed merger with Nine Entertainment Company to be in the best interests of the newspaper publisher’s shareholders. The scheme booklet for the merger indicates that the deal is expected to generate cost synergies of about $50m a year, primarily by combining the sales teams and back-office functions, and by using shared technology platforms. The scheme booklet has emphasised that there are no plans to combine the Fairfax and Nine newsrooms or retrench journalists. However, it concedes that job losses in other areas are likely.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, GRANT SAMUEL AND ASSOCIATES PTY LTD, STAN ENTERTAINMENT PTY LTD, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA