Two local independent music-media rivals have announced plans to combine their businesses, leveraging off each other’s print and online strengths to create a single print masthead and online portal.
Foxtel will take a 15 per cent stake in Network Ten after the two broadcasters signed a long awaited deal to bolster the third-placed free to air TV network.
Singapore-based management consultancy firm The Project Group has become a major sponsor of Hockey Australia with a deal that could be worth more than $500,000 if the Kookaburras and Hockeyroos win
Network Ten has warned it is nearing the limits of its $200 million loan and may need to raise more money as it attempts to boost ratings and lagging advertising revenue.
Nine Entertainment shares have jumped by nearly 10 per cent after the media group said it had tripled first-half profit and announced a $150 million share buyback.
Shares in Kerry Stokes' Seven Group Holdings have soared on the firm's plans for a share buy-back and despite a 74 per cent drop in first-half profit to $68.4 million.
Following the money is always the best way to see what interests a rich man because it tells you two things – what he likes as an investment for future growth, and what he sees as having reached the limits of growth.
Kerry Stokes' Seven West Media has suffered a near $1 billion half-year loss after being forced to write down the value of its TV and newspaper businesses; underlying net profit, however, was only 8 per cent lower at $137.6 million.
Two of Perth's top radio stations are under new ownership after Fairfax Media sold 96FM for $78 million and merged its other national radio assets, including 6PR, with Macquarie Radio Network.
Jobs are to go at the ABC as the national broadcaster works out how it will operate with $254 million less in government funding over the next four years.
Network Ten has been the unloved step-sister of Australian TV in recent years but a string of would-be fairy godmothers are lining up to give the struggling broadcaster a Cinderella-like makeover.
Billionaire Gina Rinehart has quit the board of the Ten Network.Mrs Rinehart, who is one of Ten's major shareholders, will be replaced on the network's board by John Klepec.
Bitcoin trader Digital CC has claimed a profitable entry into the computer-generated currency sector, highlighting a $630,146 profit for three and a half months of business, despite the vehicle through which it conducted a backdoor listing recording an $11.8 million loss for the financial year.
Falling commodities prices have hammered Seven Group Holdings' results, with the Kerry Stokes-led company reporting a 46 per cent fall in full year profit to $261.1 million.