Communications & Technology
Communications & Technology » Media & Broadcasting
It is an exciting time for media and broadcasting. The industry is experiencing unprecedented change. Convergence between mobile telecommunications, traditional media, on-line and social media, is affecting development in content creation, delivery and immediacy of reporting.
The traditional media sector continues to experience renewed consolidation with an expected increase in the number of mergers and affiliations. We have also seen the aggregation of spectrum, renewal of licences, and an attempt to re-block spectrum and licences.
Direct participants in mobile telecommunications, traditional media, online and social media need to be up to date with these developments. In addition, other businesses need to understand how these developments have changed because this changes the way they must interact with the media.
Corrs diverse practice in this area means we have therefore the most diverse experience, representing direct and indirect participants. Our work for NBN Co puts us at the forefront of understanding the full broadband spectrum. That, coupled with our work for traditional media outlets, gives us enormous exposure to syndicated, converged programming and production agreements.
Our Experience
Acquisition by Lachlan Murdoch of 50% interest in DMG Radio from Daily Mail and General Trust
The Daily Mail and General Trust plc (DMGT) transferred 50% of its interest in Australian radio network, DMG Radio Australia, to Lachlan Murdoch’s private investment company, Illyria.
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Southern Cross Media’s takeover of Austereo
Corrs advised Southern Cross Media on its $724 million takeover of Austereo Group Limited.
Austereo Group Limited, which owns the 2Day, Fox and Triple M networks, became a takeover target after Village Roadshow announced it wanted to sell its 52.52% stake in the radio company.
Our Thinking
Copyright and the Digital Economy - ALRC inquiry needs broader scope
Australians need a copyright system that works. One they can respect. Our copyright laws need to provide certainty, encourage innovation, and enhance the free flow of information.
More
Radio industry welcomes decision by High Court to uphold cap on royalties
Commercial broadcasters all around Australia breathed a sigh of relief last month when the High Court handed the industry a crucial victory.
MoreCorrs in Brief: Independent Media Inquiry - Another report, another recommendation for a new regulator of Australian media
Reports of the News of the World phone-hacking scandal and the ensuing investigations in the UK during 2011 resulted in calls for the Australian media to be similarly investigated.
More
Convergence Review: Federal Court throws Committee Optus TV Now curve-ball
The enormity and complexity of the task of regulating media and content services in a converged environment was thrown into sharp relief by the Federal Court’s recent decision in the Optus “TV Now” case.
MoreConvergence Review Interim Report: recommendations risk further uncertainty
Expectations for the Convergence Review are high – that it will produce a new regulatory framework that is fair, flexible and doesn’t stifle innovation.
DownloadCorrs in Brief: Optus v NRL - a silver lining for cloud-based services?
The Federal Court of Australia's recent decision in Singtel Optus v National Rugby League Investments (No 2) is the first occasion an Australian court has considered copyright issues arising in cloud-based services.
Download
Convergence Review – meeting the regulatory challenge
As the traditional distinctions between TV, radio and telecommunications blur and dissolve in a converging world, the regulatory framework governing these sectors is no longer working. Revolutionary change is required.
More
Media Inquiry – where does print end and broadcast begin?
The Government has attempted to set a very narrow scope for the Independent Media Inquiry so that it is limited to print media and digital and online publications. All media outlets should look carefully at the inquiry and consider whether they shoul
MoreOur Experience
Acquisition by Lachlan Murdoch of 50% interest in DMG Radio from Daily Mail and General Trust
The Daily Mail and General Trust plc (DMGT) transferred 50% of its interest in Australian radio network, DMG Radio Australia, to Lachlan Murdoch’s private investment company, Illyria.
The transaction was a 50/50 joint venture between DMGT and Illyria, with Lachlan Murdoch becoming chairman of DMG Radio Australia.
The deal combined the global strength of DMGT with the local networks and expertise of Illyria.
Corrs’ advice to DMG Radio included overcoming complex structuring issues and securing a number of consents and approvals from government authorities and third parties.
Southern Cross Media’s takeover of Austereo
Corrs advised Southern Cross Media on its $724 million takeover of Austereo Group Limited.
Austereo Group Limited, which owns the 2Day, Fox and Triple M networks, became a takeover target after Village Roadshow announced it wanted to sell its 52.52% stake in the radio company.
Corrs was the principal adviser to Southern Cross Media on its successful $721 million off-market takeover bid for Austereo, which allowed Southern Cross Media to dramatically expand its reach in the metropolitan radio markets.
Corrs’ advice included a pre-bid arrangement with Village Roadshow Limited, advice on all takeover aspects of the transaction and advice on the associated debt facilities and the equity raising (RAPIDS entitlement offer).
Corrs drafted and negotiated all transaction documents including the implementation deed, pre-bid agreement, Bidder’s Statement and the debt and equity raising documents. Corrs also chaired the Due Diligence Committee and conducted legal due diligence on Austereo.
Our Thinking
Corrs in Brief: Independent Media Inquiry - Another report, another recommendation for a new regulator of Australian media
Reports of the News of the World phone-hacking scandal and the ensuing investigations in the UK during 2011 resulted in calls for the Australian media to be similarly investigated.
Media Inquiry – where does print end and broadcast begin?
The Government has attempted to set a very narrow scope for the Independent Media Inquiry so that it is limited to print media and digital and online publications. All media outlets should look carefully at the inquiry and consider whether they shoul
Convergence Review – meeting the regulatory challenge
As the traditional distinctions between TV, radio and telecommunications blur and dissolve in a converging world, the regulatory framework governing these sectors is no longer working. Revolutionary change is required.
Convergence Review Interim Report: recommendations risk further uncertainty
Expectations for the Convergence Review are high – that it will produce a new regulatory framework that is fair, flexible and doesn’t stifle innovation.
Convergence Review: Federal Court throws Committee Optus TV Now curve-ball
The enormity and complexity of the task of regulating media and content services in a converged environment was thrown into sharp relief by the Federal Court’s recent decision in the Optus “TV Now” case.
Radio industry welcomes decision by High Court to uphold cap on royalties
Commercial broadcasters all around Australia breathed a sigh of relief last month when the High Court handed the industry a crucial victory.
Corrs in Brief: Optus v NRL - a silver lining for cloud-based services?
The Federal Court of Australia's recent decision in Singtel Optus v National Rugby League Investments (No 2) is the first occasion an Australian court has considered copyright issues arising in cloud-based services.
Copyright and the Digital Economy - ALRC inquiry needs broader scope
Australians need a copyright system that works. One they can respect. Our copyright laws need to provide certainty, encourage innovation, and enhance the free flow of information.
Our Experts
David Smith
Partner Melbourne +61 3 9672 3345
James North
Partner Sydney +61 2 9210 6734