So where have all the Canwest shares in the Ten Network ended up? So far substantial shareholding notices have come from a handful of big investors, leaving the new owners of around half the Canwest holding to reveal themselves. Macquarie Capital took all the 50.57% of Ten from Canwest (or 523.249 million shares) and placed them in the market at $1.30 a share. Settlement was October 1 (Wednesday).
Macquarie says it’s no longer a substantial holder, having advised the market of the fact at 4.01pm on September 29. (Its initial substantial holding notice was processed late and was filed at 5.42 pm on the same day).
So far three new substantial holders have emerged holding more than 5% of Ten. They are Paradice (5.01%), UBS Nominees (5.4%) and Ausbil Dexia,(7.28%) while the Common Bank has lifted its stake to around 13.97% from 6.44%. According to a filing this week, the CBA (through Colonial First State) seems to have lifted its stake by around 7.5% Those disclosures account for around 25-26% of Ten’s shares, leaving just under 25% unaccounted for so far.
Meanwhile the Ten Network has announced that two Canwest representatives have left the board in the shape of Leonard Asper and Tom Strike. Peter Viner, another senior Canwest executives remains on the board because of his long association with the Network, having been CEO at one stage.
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Ten’s chairman, Nick Falloon said in the statement: “We are delighted that Peter Viner, a former CEO of The Ten Group and currently President of Canwest Broadcasting, will remain as a Director of Ten Holdings. Peter’s valuable combination of local and international experience in the television sector ensures he is well placed to continue to make a significant contribution to the Board.”
Mr Viner also has valuable contacts in the US TV business. — Glenn Dyer
Australian media should brace for a stagnant 2010: Australian advertising spend will finish further behind than previously predicted in 2009, and won’t grow in 2010 either, media agency Carat has warned. After growth of 3.7% last year, Carat predicts that by the end of 2009, Australian ad spend will have fallen by 6.5% — a much more pessimistic figure than its previous prediction of a fall of 1.9%. — Mumbrella
Littlely reads the riot act:
From: Littlely, Bryan
Sent: Wednesday, 30 September 2009 8:54 AM
Subject: Take Note and React — URGENTLY
If you have received this email it means you have, in some way, failed to fulfill the daily requirements of an Advertiser news journalist.
Either you have not adequately briefed the chief of staff on the story you will be working on, failed to organise a picture or even suggest a pic idea, did not make a note in the news diary I feel you have not committed yourself to the story you have put forward (ie, we have no idea if it will or won’t get up for tomorrow’s paper). More disturbingly, some of you have been given things to work on and you still have not presented a note/pic idea or briefed the chief of staff on where you are at with the story.
Today, you have until 10am to remedy this situation. If by that time you have not convinced me that you, as a news journalist, have a relevant story I find worthy to put on the newslist and present in morning conference, you can explain to the powers above why you have failed as a news journalist.
None of you can suggest that you do not know these things are required. Your failure to fulfill these basic requirements makes it near impossible for the news desk to start the day and get things happening in the tighter timelines we have. The hand holding and protecting you from yourselves stops now.
Chief of Staff
Advertiser Newspapers Pty Limited
Answer the question — yes or no? Who is writing the daily question polls for ninemsn? Today’s poll question is: Are you more worried about nuclear war or climate change? Yes or no being the only response open. Classic! — Crikey reader John Cox
Local government media black ban: Many people will find this hard to believe, but in parts of Australia local government politicians are being prevented, under threat of legal action, from talking to the media. I know. It’s ridiculous. What kind of a democracy is it when a polly can’t talk to the electorate? Yet it is happening. I have become aware of this phenomenon over the last year or so, through the work I do with suburban and rural newspaper reporters. — Margaret Simons, The Content Makers
You are being shagged by a rare parrot: Stephen Fry and zoologist Mark Carwardine head to the ends of the earth in search of animals on the edge of extinction. In New Zealand the travellers make their way through one of the most dramatic landscapes in the world. They are on a journey to find the last remaining kakapo, a fat, flightless parrot. The creature then offers a hint as to why it’s facing extinction… Watch here. — BBC’s Last Chance to See
An open letter to Aaron Sorkin:
To: A. Sorkin, D. Fincher
Re: Facebook Movie
Gentlemen: My Google reader informs me that you two are teaming up to write and direct a making-of-Facebook story (working title: The Social Network). While I’m a tad offended I wasn’t notified through more formal channels — I am, after all, a member of Facebook and therefore entitled to give notes — I offer my heartiest congratulations.
Ten reasons why you should boycott Skype: If you want to understand what Skype actually is, it might help to picture an almighty telephone and mail company. This company cannot only spy on your private conversations and has total control over them, but it also forces you to use it. It owns the telephone lines and all mail transportation and does not let other companies use them. — Freedom Blog