TELEVISION BROADCASTING – AUSTRALIA

Ten baulks at Wilkinson’s $1.8m claim for costs

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Original article by Ellie Dudley
The Australian – Page: 3 : 28-May-24

Presenter Lisa Wilkinson is seeking over $1.8 million from the Ten Network to pay her legal costs in the aftermath of their defamation case against Bruce Lehrmann, with the Federal Court being told by her lawyers on Monday that Ten was showing an "ongoing reluctance" to pay her costs. The dispute between Wilkinson and Ten over her legal costs arose as a result of her deciding to seek separate representation for the defamation case, with Ten arguing that she should pay for all aspects of the case where it was not necessary for her to have separate representation.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, FEDERAL COURT OF AUSTRALIA

Network 10 is in total turmoil and may not survive as Australia’s third commercial broadcaster

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Original article by Shannon Molloy
News.com.au – Page: Online : 8-May-24

Professor Amanda Lotz from the Queensland University of Technology believes that one of Australia’s three commercial free-to-air TV networks will not survive until the end of this decade. She says the sector is in a "death spiral" and it possible that just one network will be viable in the long-term. The three networks had combined advertising revenue of $7.7bn in 2006, but this had fallen to $3.8bn in 2020-21. The Ten Network’s future in particular is uncertain, given that it may not be very appealing to potential buyers of parent company Paramount Global. Media commentator James Manning says a private equity firm seeking a "bargain buy" might be the most likely buyer of Ten.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, PARAMOUNT GLOBAL, QUEENSLAND UNIVERSITY OF TECHNOLOGY

Southern Cross rejects ARN Media takeover

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Original article by Sophie Elsworth
The Australian – Page: 17 : 8-Mar-24

Southern Cross Media Group has formally rejected a takeover offer from ARN Media and Anchorage Capital Partners, contending that it undervalues the TV and radio stations group. However, chairman Rob Murray has indicated that Southern Cross would be open to a revised offer. He adds that the group’s radio stations and digital audio platforms are its key focus; it owns 99 radio stations across Australia, while ARN Media owns 58 radio stations.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, ARN MEDIA LIMITED – ASX A1N, ANCHORAGE CAPITAL PARTNERS PTY LTD

Network 10 to axe local jobs in global Paramount redundancies

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Original article by Calum Jaspan
The Age – Page: Online : 16-Feb-24

US media group Paramount Global has confirmed that the Ten Network will be impacted by its move to cut 800 jobs across its operations. Ten’s staff were advised on Thursday that those who will be affected by the downsizing would be informed by the end of the day. However, a local source within Paramount has indicated that the impact of the job cuts on its operations in Australia will be minimal. The restructuring has coincided with Paramount’s recent discussions regarding potential mergers.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, PARAMOUNT GLOBAL

Seven eyes rebound after worst TV market fall ever

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 16 : 14-Feb-24

Seven West Media has posted a 2023-24 interim net profit of $54m, which is 53 per cent lower than previously. EBITDA was down 40 per cent at $124m, and revenue was fiver per cent lower at $775m. Recent data from ThinkTV shows that television advertising revenue fell by 10.4 per cent in 2023, amid an economic slowdown and rising interest rates; Seven’s outgoing CEO James Warburton notes that TV revenue is typically the first to decline in a crisis and the first to rebound. CFO Jeff Howard is slated to succeed Warburton by the end of the financial year.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, THINK TV

Free-to-air TV beats streaming giants for events

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Original article by Zoe Samios, Sam Buckingham-Jones
The Australian Financial Review – Page: 21 : 29-Nov-23

The federal government will shortly introduce a bill giving effect to its ‘prominence’ framework for local broadcasters. The legislation will require manufactures of smart TVs to prominently display the channels and apps of free-to-air networks on their interfaces. Streaming companies often pay to have their apps appear in prime positions on connected TV interfaces. The legislation will also include changes to the anti-siphoning rules for major sports events, with free-to-air networks to be given priority in discussions regarding broadcast deals. The government also intends to add women’s sports and para-sports to the anti-siphoning list.

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Target wary of opportunistic ARN

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 16 : 30-Oct-23

ARN Media and Anchorage Capital Partners are offering 0.753 ARN shares for each Southern Cross Austereo share, along with $0.296 in cash and $0.127 in franking credits. Southern Cross chairman John Murray has labelled the takeover bid "opportunistic", while describing it as quite complex and one that could take months to evaluate. Murray and Southern Cross CEO John Kelly have established a sub-committee of its board and management to assess the offer, while its shareholders are supportive of it considering the bid.

CORPORATES
SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, SOUTHERN CROSS AUSTEREO PTY LTD, ARN MEDIA LIMITED – ASX A1N, ANCHORAGE CAPITAL PARTNERS PTY LTD

Content quotas won’t guarantee another Bluey, says Ten boss

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Original article by Calum Jaspan
The Sydney Morning Herald – Page: Online : 22-Sep-23

The Ten Network recently rebranded its 10Shake secondary channel as Nickelodeon, a children’s-focused channel owned by US parent company Paramount that was previously broadcast on Foxtel. Paramount Australia’s chief content officer and co-vice president Beverley McGarvey says bringing Nickelodeon to free-to-air TV will give Australian children access to a larger range of content aimed at young audiences. McGarvey adds that imposing children’s content quotas would not result in another global hit like Bluey, arguing that the animated show’s success is due to the fact that it is brilliant rather than a content quota system.

CORPORATES
TEN NETWORK HOLDINGS LIMITED, NICKELODEON, PARAMOUNT GLOBAL

Seven downgrades its TV ad market forecast

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 15 : 3-May-23

Seven West Media CEO James Warburton estimates that the TV advertising market fell by 11 per cent during the March quarter, and he expects a similar decline in the June quarter. Seven West had forecast in February that the advertising sales downturn in the March quarter would be in the "mid to high single-digits". However, Warburton notes that the TV ad market often rebounds quickly after a downturn. Warburton has also advised that Seven West now expects its operating costs for 2022-23 to be within the range of $1.2bn to $1.21bn, compared with previous guidance of $1.22bn to $1.23bn.

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM

Free TV in push for prime spot on screens

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Original article by Sam Buckingham-Jones
The Australian Financial Review – Page: 30 : 6-Mar-23

Australia’s commercial free-to-air networks have described prominence on connected TVs as the most important regulatory issue facing the industry. The federal government wants to legislate to ensure that the apps of local networks are pre-installed and prominently displayed on TV sets. However, Free TV Australia believes that the legislation should go further, and mandate that the apps of local broadcasters are displayed first on the home screens of connected TVs. Foxtel has criticised the networks’ push, contending that it constitutes a "free ride on Aussie consumers".

CORPORATES
FREE TV AUSTRALIA LIMITED, FOXTEL MANAGEMENT PTY LTD