Business of Media
Seven eyes plan to create Australia’s next $1 billion media company
Seven West Media executives are sizing up plans for an M&A tie-up with HT&E, with the chairman of the radio and outdoor giant effectively saying the ball is now in the court of the Kerry Stokes-controlled media company, report Nine Publishing’s Mark Di Stefano and Sam Buckingham-Jones.
Seven West executives have been considering the merits of a possible deal that would bring Channel Seven and The West Australian together with the firm that owns Kiis FM, the home of Kyle and Jackie O – creating Australia’s next $1 billion media company.
The idea of a tie-up between the two ASX-listed companies has been around for some years, becoming a regular topic of speculation in media investment circles.
Seven has listed one of its strategic priorities as “explore M&A opportunities” in its most recent annual report, released late last year.
But sources say that the chatter has given way to serious consideration of a possible deal, with executives at Seven West Media actively discussing a plan and several bankers approaching the broadcaster with proposals in recent months.
Chairman of HT&E Hamish McLennan – a former chairman and chief executive of Network 10 – told The Australian Financial Review that “there’s been informal chitchat in the past” but he was waiting to see Seven’s next move. He also made a veiled swipe at Seven’s pile of debt on the balance sheet.
“Let’s see if they bounce the ball,” McLennan said. “With free to air, we continue to assess where audiences are going, the cost of production, the inflation in the costs of sports rights, and counterparty debt levels.”
Netflix is offering local advertisers their money back
US streaming giant Netflix is giving some local advertisers their money back after failing to meet audience expectations in the three months since it launched its ad-backed subscription plan, reports NIne Publishing’s Zoe Samios.
Netflix rolled out an advertising tier locally last November in an attempt to reduce its reliance on the revenue it receives from subscribers. Australia was one of the first markets to be offered the $6.99 per month plan because of its strong local subscriber numbers and mature ad market.
But it is already struggling to meet its commitments to advertisers. Multiple advertising sources, who spoke anonymously because they aren’t authorised to speak publicly on the matter, said Netflix was handing back money over concerns it would not be able to deliver the audience numbers it committed to when it signed 12-month agreements with key brands. Netflix declined to comment.
Foxtel confident of keeping HBO hit machine open
The boss of News Corp-controlled cable TV and streaming company Foxtel has signalled the owner of popular HBO shows such as White Lotus and House of the Dragon will sign another licensing deal with a local player, a move that would delay the US content giant’s plans to launch its own streaming service in Australia, reports NIne Publishing’s Zoe Samios.
Foxtel CEO Patrick Delany has said his company, which holds the exclusive rights to HBO programs such as Euphoria and Succession, is in a “very good position” to renegotiate with HBO’s parent company, Warner Bros Discovery, as he fights for the crown jewel of international content against rival bidder Stan.
“The whole world’s changed, hasn’t it,” Delany said in an interview following the release of Foxtel’s second quarter results last Friday. “The architect of the throw everything into streaming – Bob Iger – is back into his job and has reassessed that strategy as though it wasn’t his.”
“We’re seeing a lot of the streamers doing exactly the same. We think that whatever decision is made, whether it’s to go over the top or continue to provide output, we’re in a very good position to work with Warner Bros.”
Women in Media Gender Scorecard: Women still lag behind men as media sources
Women remain largely under-represented as sources quoted in the media, with female voices used in only 30 per cent of Australian news stories, a study has revealed, reports The Australian’s Sophie Elsworth.
Despite this, the number of women featured in media coverage overall is on the rise, according to the latest Women in Media Gender Scorecard, to be released on Monday.
The comprehensive study, compiled by Women in Media, the member organisation for women working in the media, used Isentia data to analyse more than 18,300 print, radio and television reports during a 14-day period in July last year.
The research found that while males are quoted in news reports 70 per cent of the time, their representation has fallen slightly – down from 77 per cent – compared to the last study of its kind, conducted in 2016.
After backlash, Federal Court loosens crucial document access rules
The Federal Court has loosened controversial restrictions blocking access to key court documents until a case had appeared before a judge, after backlash from journalists and editors across Australia’s major media companies, reports Nine Publishing’s Sam Buckingham-Jones.
Journalists argued the changes were a “full-frontal assault on the principle of open justice” and risked keeping crucial information about court cases secret for months longer than necessary.
On Sunday afternoon, the court shared an update to the rules that would let non-parties such as the media apply to access unrestricted documents like statements of claim, originating applications and concise statements before a hearing – but only if all parties agree.
“The court will promptly consult with parties to determine whether the respondent or respondents have been served and determine whether an application for a suppression or non-publication order will be made,” a procedure note said. “The court expects any such application to be made promptly.”
News Brands
Labor mulls future of ABC board after director Fiona Balfour quits
The ABC has lost another Coalition appointee from its board, with Fiona Balfour resigning from the public broadcaster more than three years before her term was due to expire, reports The Australian’s Nick Tabakoff.
The former chief information officer at Qantas and Telstra was one of former prime minister Scott Morrison’s so-called “captain’s picks” for the ABC board in May 2021, with the appointment prompting criticism at the time that the Coalition government was stacking the board with its political allies.
But Balfour’s sudden departure at the end of January, just weeks after businessman Joe Gersh was told by Communications Minister Michelle Rowland that his term would not be extended upon its expiry in May, has raised questions about the government’s plans for the make-up of the board of the taxpayer-funded media organisation.
The ABC Act (1983) states that in addition to the chairman, the managing director and the staff-elected director, there can be no fewer than four and no more than six directors on the board.
Television
Rachel Corbett in tears as she announces she’s leaving The Project on maternity leave
The Project has farewelled another of its stars, with Rachel Corbett announcing she is leaving on maternity leave on Sunday night’s edition of the show, reports news.com.au.
“I’ve sat at this desk every single week for the last six years,” Corbett said as a staffer delivered flowers to her at the end of the program.
“Oh my god, fuss. I hate fuss. Thank you though, that’s lovely,” she quipped.
“It’s so weird to be leaving, and also to have no idea who I’m going to be on the other side of this. Because it’s the biggest thing, and the weirdest thing that you can have no measure for.”
Corbett’s departure, albeit temporary, makes her the fourth significant loss for The Project in recent months, following on from those of Lisa Wilkinson, Peter Helliar and Carrie Bickmore.
How important is it we have 5 viable Free to Air networks?
As the ratings year gets underway for 2023, and press report on audience fragmenting and fierce competition, TV Tonight poses a simple question to Free to Air networks, and finds some surprising unison.
How important is it we have 5 viable Free to Air networks?
Beloved ‘Ramsay St’ home for sale ahead of Neighbours revival
After being consigned to the TV graveyard last year, the remarkable resurrection of the much loved Australian soap Neighbours will move up a gear in April when filming starts on new episodes, reports News Corp’s Fiona Byrne.
It seems there is still work to be done getting the production ready for filming.
It is unclear whether new contracts have yet been inked with the residents of Pin Oak Court in Vermont South to see the court continue to be used as the backdrop of the show.
The facades of six of the houses in the court were used over the years in the show.
Owners of the properties were paid a fee by the production company, Fremantle, that saw filming take place in the court several times a month and prevented them from making substantial changes to the homes.
One of those famous homes, number three in Pin Oak Court, Toady’s home for fans in the know, is now on the market.
It was open for inspection on Saturday with four interested parties doing a walk through as a couple of tourists on holiday from the UK arrived in the court to get their Ramsay Street selfie.
The four bedroom, two bathroom brick home has an asking price of $1.275 and is being sold through Docking Real Estate.
Sports Media
ESPN to broadcast All Elite Wrestling (AEW) exclusively in Australia, New Zealand, and Pacific Islands
ESPN has announced that it has secured exclusive broadcast rights to top American professional wrestling promotion All Elite Wrestling (AEW), bringing matches and entertainment to ESPN subscribers in Australia, New Zealand and the Pacific Islands starting February 16.
This marks AEW’s first broadcast deal in Australia, New Zealand and the Pacific Islands, and ESPN’s first broadcast partnership with a professional wrestling organization in the region.
Each week on ESPN, fans in the region can catch all the action on AEW: Dynamite on Thursday AEDT, and AEW: Rampage on Saturday AEDT, with same-day replays and episodes made available on-demand. In addition, through ESPN, fans will have access to all of AEW’s quarterly pay-per-view events on delay: Revolution, Double or Nothing, All Out, and Full Gear.
AEW will be available on ESPN in the following locations: Australia, New Zealand, Fiji, Samoa, Tonga, Cook Islands, Solomon Islands, Niue, Nauru, Vanuatu, Kiribati, Northern Marianas, Tokelau, Tahiti, Tuvalu, New Caledonia, American Samoa, Marshall Islands, Palau, Federated States of Micronesia, Papua New Guinea, and Wallis and Futuna.