Foxtel and Discovery restructure Ten deal
Discovery Communications and Foxtel are proposing a restructured deal for Ten Network Holdings, after its original $590 million bid for the network met opposition, The Australian Financial review has reported. The restructured deal requires only 51% of voting shareholders to approve it in order for Discovery and Ten to control Ten's key assets, but requires the co-operation of Ten's board of directors. The original joint 23c-a-share offer was rejected by Ten's largest shareholder, Bruce Gordon, who has a 14.9% stake in the network.
Cowin remains on Fairfax board
Hungry Jack's founder Jack Cowin will stay on the board of Fairfax Media despite Gina Rinehart selling her entire stake in the company, the Australian Financial Review reports.
Cowin was appointed as an independent director in July 2012, in what was called an “olive-branch” move by Fairfax after denying Rinehart's requested two board seats. Cowin said his role on the board “is unrelated to her decision to sell her shares”.
Industry eyes native
Also in the AFR, native advertising and content marketing has become critical to publishers' futures. One top-five Australian publisher told the paper any publisher that didn't embrace it had “question marks” about viability. Native ads are forecast to reach $US3.4bn ($4.3bn) in three years, with some in the industry predicting they will replace banner ads which are currently worth around $1bn in Australia.
Netflix and Ten talk on partnership
Netflix and Network Ten have held talks about partnering on the Streaming giant's advent into the Australian market, The Australian is reporting. If a deal with Ten is agreed to, it would mark the first time Netflix has adopted a major partnership strategy anywhere in the world. The Australian understands Netflix contacted Ten late last year and that a partnership would including joint funding of new programs and marketing initiatives.
SBS chair selection under investigation
The Australian is also reporting that the Federal Government is investigating how thoroughly new SBS chair Nihal Gupta's experience was scrutinised before he was appointed to the role with a five-year term. The SBS nominations panel, comprised of David Gonski, Ric Smith, Janet Albrechtsen and Neil Brown said they recommended Gupta because of his business and marketing experience.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.