TELEVISION BROADCASTING – AUSTRALIA

Gordon, Murdoch in Ten seat after Oaktree exit

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Original article by Bridget Carter
The Australian Financial Review – Page: 19 : 24-Aug-17

A decision by the Australian Competition & Consumer Commission on whether it would approve the acquisition of Ten Network by Lachlan Murdoch and Bruce Gordon is said to be imminent. They have emerged as the leading contenders to buy Ten following reports that hedge fund Oaktree Capital has withdrawn its offer, which was made jointly with Anchorage Capital Group. Murdoch and Gordon are believed to have offered around $A250m for Ten.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, OAKTREE CAPITAL MANAGEMENT LLC, ANCHORAGE CAPITAL GROUP LLC, PPB ADVISORY, MOELIS AND COMPANY, KORDA MENTHA AND COLLEAGUES PTY LTD, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CREDIT SUISSE (AUSTRALIA) LIMITED, NEWS CORPORATION – ASX NWS, WIN CORPORATION PTY LTD

News Corp picks merger deal over Ten

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 21-Aug-17

News Corp will increase its stake in Foxtel from 50 per cent to 65 per cent if a proposed merger between the pay-TV group and Fox Sports proceeds. This would make it harder for the joint venture between Lachlan Murdoch and Bruce Gordon to acquire the Ten Network, given that Murdoch is co-chairman of News Corp and the owner of Nova Entertainment. Murdoch and Gordon are said to have submitted a conditional bid for Ten, but they may be thwarted by the Federal Government’s failure to pass its media reform bill in the Senate. Offers to acquire Ten had to be submitted by 18 August.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NOVA ENTERTAINMENT PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, OAKTREE CAPITAL MANAGEMENT LLC, ANCHORAGE CAPITAL GROUP LLC, SKY NEWS, REA GROUP LIMITED – ASX REA, HT&E LIMITED – ASX HT1, MULTI CHANNEL NETWORK PTY LTD, BIRKETU PTY LTD, ILLYRIA NOMINEES TELEVISION PTY LTD, WIN CORPORATION PTY LTD

Senate deadlock hits Ten’s rescue hopes

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Original article by David Crowe, Darren Davidson
The Australian – Page: 1 & 2 : 18-Aug-17

Cross-media ownership reforms are in doubt after the Federal Government rejected a proposal by Senator Nick Xenophon to provide tax incentives for small media companies. The tax offset would have been available for the Australian editions of foreign publications such as "The Guardian", which Communications Minister Mitch Fifield says is inappropriate. The stalled media reform bill will effectively prevent most Australian media companies from bidding for the Ten Network. The deadline to submit bids is 18 August.

CORPORATES
NICK XENOPHON TEAM, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, TEN NETWORK HOLDINGS LIMITED – ASX TEN, WIN CORPORATION PTY LTD, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, ANCHORAGE CAPITAL GROUP LLC, SKY NEWS, AUSTRALIAN LABOR PARTY, PPB ADVISORY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN BROADCASTING CORPORATION, SEVEN WEST MEDIA LIMITED – ASX SWM, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

TV networks face slug for local content fund

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Original article by Andrew Tillett
The Australian Financial Review – Page: 6 : 15-Aug-17

The Australian Government is continuing to hold talks with Senate crossbenchers regarding its cross-media reform bill, which is slated to be debated on 15 August. The Greens remain open to negotiation, and the party has proposed that TV networks should be required to contribute to a "local content fund". This was a key recommendation of the Convergence Review in 2012. The Greens’ Sarah Hanson-Young has also advocated an increase in funding for the ABC and SBS, while One Nation wants their funding to be reduced.

CORPORATES
AUSTRALIAN GREENS, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NICK XENOPHON TEAM, AUSTRALIAN LABOR PARTY, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Ten still faces headwinds with new owners

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 14-Aug-17

The deadline to submit bids for Ten Network is believed to be 18 August, with the aim of finalising a deal by the end of the month. US private equity firms and hedge funds are among those to have expressed interest in buying Ten, while the network’s acquisition by Lachlan Murdoch and Bruce Gordon would be conditional on cross-media ownership reforms being passed by the Senate. Meanwhile, industry observers note that Ten’s new owners will face a number of challenges, including a decline in the free-to-air advertising market.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, OAKTREE CAPITAL MANAGEMENT LLC, ANCHORAGE CAPITAL GROUP LLC, LONE STAR FUNDS, CBS CORPORATION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NEWS CORPORATION – ASX NWS, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, SMI MEDIA INCORPORATED, McKINSEY AND COMPANY, 21ST CENTURY FOX INCORPORATED, ENDEMOL SHINE AUSTRALIA PTY LTD, MULTI CHANNEL NETWORK PTY LTD, FOX SPORTS AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, CRICKET AUSTRALIA, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Media companies soar ahead of vote

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Original article by Lucy Battersby
The Age – Page: 25 : 8-Aug-17

The Australian Government’s cross-media ownership reform bill is slated to be debated in the Senate on 9 August. Shares in some media companies have rallied in the lead-up to the resumption of Parliament. Prime Media Group’s shares have gained 16.5 per cent in the last two weeks, amid speculation that the regional TV broadcaster would become a takeover target if media laws are relaxed. Shares in Nine Entertainment Company, Southern Cross Media Group Fairfax Media have also risen in the last week.

CORPORATES
PRIME MEDIA GROUP LIMITED – ASX PRT, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FAIRFAX MEDIA LIMITED – ASX FXJ, STAN ENTERTAINMENT PTY LTD, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, MORNINGSTAR PTY LTD, TRIPLE M CORPORATION PTY LTD, HIT NETWORK, GOOGLE INCORPORATED, FACEBOOK INCORPORATED

Lone Star joins pack tuning into Ten

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 31-Jul-17

About nine potential buyers of the Ten Network have obtained an information memorandum and signed a non-disclosure agreement. They are believed to include US private equity firm Lone Star Funds, which boasts some $US70bn ($A87.7bn) worth of assets under management. Oaktree Capital Management, hedge fund Anchorage Capital and CBS Corporation have also expressed interest in buying Ten. Indicative bids for the failed network must be submitted by late August.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, LONE STAR FUNDS, OAKTREE CAPITAL MANAGEMENT LLC, ANCHORAGE CAPITAL PARTNERS PTY LTD, CBS CORPORATION, FORTRESS INVESTMENT GROUP LLC, ASTRO JAPAN PROPERTY GROUP – ASX AJA, AWE LIMITED – ASX AWE, PPB ADVISORY, MOELIS AND COMPANY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, 21ST CENTURY FOX INCORPORATED, ILLYRIA PTY LTD, BIRKETU PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Calls to rein in ABC and SBS

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Original article by Darren Davidson
The Australian – Page: 24 & 26 : 31-Jul-17

Media industry executives have expressed concern that the ABC and SBS are increasingly competing directly with commercial rivals for content and viewers, and urged the Federal Government to step in to ensure that the public broadcasters adhere to their charters. Criticisms of the ABC and SBS include the fact that they are not subject to the same media regulations as their commercial rivals and that SBS is using taxpayers’ funds to outbid commercial networks for US content.

CORPORATES
AUSTRALIAN BROADCASTING CORPORATION, SPECIAL BROADCASTING SERVICE (SBS), NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, FAIRFAX MEDIA LIMITED – ASX FXJ, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIAN ASSOCIATED PRESS PTY LTD, STAN ENTERTAINMENT PTY LTD, FOXTEL MANAGEMENT PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, MELBOURNE PRESS CLUB

MasterChef chews on a karate chop from Ninja

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Original article by Stephen Brook
The Australian – Page: 3 : 25-Jul-17

The ratings for Ten Network’s "MasterChef" grand final on 24 July will be closely scrutinised following the success of Nine Network’s "Australian Ninja Warrior". The first part of the "MasterChef" finale attracted an audience of 953,000 in the five major capital cities on 23 July, compared with a peak audience of 1.75 million for Nine’s sports reality show. The ratings success of "Australian Ninja Warrior" has also prompted the Seven Network to reschedule some programs.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, AUSTRALIAN BROADCASTING CORPORATION

SBS driving up prices, says Nine

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Original article by Darren Davidson
The Australian – Page: 5 : 21-Jul-17

Nine Entertainment Company CEO Hugh Marks has told a parliamentary inquiry into Australia’s film and TV industry that the cost of buying overseas TV programs has risen due to competition from public broadcasters. He said SBS in particular is outbidding commercial networks for international content, and he has questioned the relevance of some of these programs to SBS’s charter. Meanwhile, the Ten Network has urged the Federal Government to abolish content quotas for children’s TV programs.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, NINE NETWORK AUSTRALIA LIMITED, SPECIAL BROADCASTING SERVICE (SBS), TEN NETWORK HOLDINGS LIMITED – ASX TEN, AUSTRALIAN BROADCASTING CORPORATION, SCRIPPS NETWORKS INCORPORATED, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NETFLIX INCORPORATED, APPLE INCORPORATED, AMAZON.COM INCORPORATED