Business of Media
News Corp still open to M&A activity as it sets new buyback
News Corp chief executive Robert Thomson has not ruled out further merger and acquisition activity for the media company as it announces a $US1 billion ($1.38 billion) share buyback program, reports AFR’s Miranda Ward.
Speaking at the Goldman Sachs 30th annual Communacopia Conference after the company announced it had authorised the stock-repurchase program to replace the $US500 million program authorised in May 2013, Thomson said News Corp remains in the market as a buyer.
The new share buyback program allows the company to repurchase a combination of its Class A and Class B common stock in the open market and has no time limit. That rights agreement had limited the potential accretion of voting power by the Murdoch Family Trust and Murdoch family members.
Buybacks have become a popular way for companies to return money to shareholders alongside dividends. When a company buys its own stock, it removes shares from the market, which typically boosts the share price because each share claims a larger slice of the business’ profit.
News Brands
Ban on media choppers flying above Melbourne CBD is overturned by Federal Court
Media companies are again allowed to fly their helicopters over Melbourne’s CBD and livestream aerial footage after a ban to stop the standard practice was scrapped, reports News Corp’s Sophie Elsworth.
On Thursday in the Federal Court, media outlets including Nine Network Australia Pty Ltd, Seven Network Ltd and the Australian Broadcasting Corporation argued against the decision made by the Civil Aviation Safety Authority on Wednesday, which prohibited their ability to live-broadcast the city’s ongoing protests.
Seven’s director of news Craig McPherson said the decision to overturn the ban was a win for the TV networks and viewers.
Publishing
Publisher AGH restructures editorial team at Trade a Boat brand
Fishing and nautical journalist Tim Simpson has been appointed as editor at large for the iconic Trade a Boat brand.
Adventures Group Holdings (AGH), the publisher of Trade a Boat, announced the change to the editorial team as part of the broader structural changes carried out by the Emprise Group. Simpson will be responsible for the content direction and be the public face of AGH’s marine assets, namely Trade a Boat magazine and its digital assets.
Trade a Boat has been published since 1972, merging with Trailerboat magazine in 2014.
Simpson has been a fixture in the fishing industry for decades, variously as an enthusiast, retailer, journalist, educator and government adviser.
Previous editor and AGH content director Tim van Duyl said, “We are excited by Tim Simpson coming on board. His experience is unparalleled in big-boat and indeed small boat fishing and as we know the vast majority of boat owners primary use of their vessel for fishing, Trade a Boat readers will benefit from the passion and knowledge Tim brings.”
Tim van Duyl will continue to contribute to Trade a Boat with reviews and features and major content projects such as the work done to produce the Sanctuary Cove International Boat Show guide.
Rob Gallagher, CEO of AGH parent company Emprise Group, said, “Trade a Boat has long been the bible for boat lovers looking for inspiration or practical guidance on boat ownership. Tim brings a wealth of industry knowledge and expertise that will be critical in shaping the direction of the brand as we embark on its next phase of growth.
“The quality and domain authority of the AGH content and its brands has set us apart in the market. The addition of Tim Simpson to the team will build on that established reputation and create a deeper connection with our marine partners.”
Tim Simpson said, “I feel honoured and excited to take the helm of Trade a Boat and will focus on guiding our readers through the important aspects of boat selection. I’ll also highlight the boats most suitable for fishing and explain to readers how to substantially boost their angling success.”
AGH first moved to market facing, established industry leaders for editors at large with the appointment of John Ford to Caravan World. Trade A Boat was the final piece in the puzzle for AGH after it had also rolled out the new editorial model for Camper Australia and the CMCA member magazine, The Wanderer.
Trade A Boat will celebrate its 50th anniversary in 2022.
Television
International Emmy Awards 2021: nominees
Nominees have been announce for the International Emmy Awards this year, reports TV Tonight.
UK drama Des (which begins tonight on ABC), French comedy Call My Agent and Israeli drama Tehran are among those vying for prizes.
Australia was not amongst the 24 countries named this year, although New Zealand gets a nod in the short form series category.
Winners will be announced at an in-person Ceremony in New York City, on Monday, November 22.
Sam Burgess slams critics of his SAS Australia appearance after medically retiring from NRL
Sam Burgess has come out swinging in defence of accusations his stunning performance on SAS Australia raises questions about his medically forced NRL retirement, writes News Corp’s Paul Crawley.
Burgess, 32, has stunned viewers of the hit reality TV show with his remarkable physical recovery two years after chronic shoulder issues forced him to quit one season into a four-year contract.
It’s led to suggestions that there may have been something dodgy about Burgess’ retirement that ultimately saw his $1 million-a-season wage wiped off South Sydney’s salary cap.
But the English enforcer has slammed those claims, adamant “there is nothing to hide … there is no salary cap evasion”.
Byron Bay COVID case: “There was no wrap or finishing party”
ITV Studios Australia has released a further statements following some media reporting around alleged COVID breaches by a crew member whilst in Byron Bay, reports TV Tonight.
There are fears the positive crew member from 10’s I’m a Celebrity Get Me Out of Here could jeopardise production of Nine’s Love Island -both shows are produced by the same production company.
An ITV Studios Australia spokesperson said in a statement, “As has been reported, an I’m A Celebrity crew member tested positive for COVID-19. This discovery was made through the rigorous testing regime implemented by our CovidSAFE plan on the production.
Byron mayor: “I am looking to rescind council approval for Love Island”
The upcoming season of Love Island hangs in the balance following a crew member from I’m a Celebrity Get Me Out of Here allegedly breaching exemptions in Byron Bay, reports TV Tonight.
Filming is due to begin this weekend in Federal and is schedule to premiere on Monday October 4.
Local mayor Michael Lyon wrote in a Facebook post, “I am looking into our options this morning to rescind council approval for the Love Island production, from the same studios that brought I’m A Celebrity, and Covid, to the region.
Sports Media
Foxtel launches ‘For the love of sport’ marketing campaign
Foxtel has launched a new marketing campaign, For the love of sport, celebrating the breadth of sport available on Fox Sports.
The campaign highlights the power and reliability of sport at a time when Australians need it most. The campaign spans print, social and on air.
The a full-page advertisement reproduced here was printed in News Corp Australia newspapers nationally today. A social media hero video was also released to bring to life the essence of the campaign.
The campaign launches as the NRL and AFL gear up to Grand Finals and ahead of the summer of cricket including The Ashes as well as F1 and Supercars that are also available on Foxtel.
“Now more than ever, we need and want live sport. Whether you’re watching on the couch while in lockdown, chatting about the ins and outs in a WhatsApp group, or lucky enough to be at the pub with your mates – it’s what brings joy to families across the nation,” said Steve Crawley, executive director Fox Sports.
Brian Taylor reveals lucky escape after gas explosion on his Gippsland property
Channel 7 commentator Brian Taylor says he’ll always be a tool man despite his lucky escape with minor injuries after a gas explosion at his Gippsland property, reports News Corp Jackie Epstein.
Taylor is in Perth ready to call Saturday’s grand final, alongside James Brayshaw, but says the incident last month while working on a hot water service had the potential to be serious.
“In the end it looks like it was perhaps overblown but one of the things with fires and LPG is the medicos are worried you’ve inhaled heat into your lungs and that can do damage,” Taylor, 59, said.