Southern Cross Austereo takes $5 million stake in telco startup

Media group Southern Cross Austereo has taken a $5 million equity stake in startup telecommunicatons company OVO Mobile, with the two expected to focus on sports broadcast rights.
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The new arrangement will see Southern Cross Austereo’s Triple M and Hit Network available data-free to OVO Mobile customers on its OVOPlay platform.

The telco is known for buying broadcast rights to niche sports.

Already, OVO Mobile providers its customers video and audio data-free for sports including Gymnastics Australia, Water Polo Australia, Supercheap Auto V8 Supercars team, 400 Thunder Drag Racing and World SuperBikes.

Southern Cross Austereo chief sales officer Brian Gallagher said it was attracted to the business model of offering mobile telecommunications built around a digital platform for sport content.

He described sport as the “biggest immediate synergy” between the two companies.

“Sport is integral to our Triple M network and increasingly popular on our PodcastOne network with podcasts like Howie Games,” he said.

“The days of some businesses focusing purely on content and others just being a delivery platform are running out.”

A significant proportion of its customer uptake has been thanks to Southern Cross Austereo, which it had worked with for the past 12 months, OVO chief executive Matt Jones said.

OVO Mobile launched in 2016, offering prepaid mobile phone services, and has doubled its customer base from quarter-to-quarter with “significantly more” than 50,000 using its service.

About a third of the customer base are children, using its budget kids mobile plan, with children now getting their first phone at an average 10 years old, Mr Jones said.

Another plan proving popular with customers is the 100GB for $100 plan, positioned for those “frustrated with the NBN”.

Now the two companies are in partnership, it will make Southern Cross Austereo a top five shareholder of OVO Mobile, which Mr Jones said would allow the telco to “leverage off their expertise” in the broadcasting and media space.

His view for the future is one where telecommunications companies and media companies ultimately converge completely, with telecommunications services coming as a part of a content package.

In the meantime, he said it was all about expansion – next on the telco’s wishlist as it amps up its coverage are racket sports, such as badminton, and eSports, where professional digital gamers compete.

“Our mobile offering is strong, but it’s our broadcasting focus that sets OVO apart and gives us our higher purpose, which is attracting big audiences for sports that otherwise struggle to gain traction,” he said.

With loyal fans and a focus on less-mainstream sports, he said they find it translates into new customers as well as existing customer loyalty.

Its understood the arrangement is not exclusive with discussions for future partnerships underway with overseas sports organisations, and other Australian and global media companies.

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[email protected]: ASX set to follow Wall Street lower

The information of stocks that lost in prices are displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg MARKETS. 7 JUNE 2011. AFR PIC BY PETER BRAIG. STOCK EXCHANGE, SYDNEY, STOCKS. GENERIC PIC. ASX. STOCKMARKET. MARKET.
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Stock information is displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg

It’s been a strange old night in markets and the moves in US equities won’t support the Australian market at a time when investors are scratching around for an upside catalyst and finding them hard to come by.

1. Wall Street: The S&P 500 and Dow both pushed higher on open, naturally tailing on from the moves in the futures markets, which had been moving progressively higher through Asian and European trade. Just before 02:00 aedt the market snapped and a pulse was actually seen in the market and suddenly the bid dried up and traders were reminded that the index can fall, with a big moves lower coming through in all US equities, although small caps saw the bigger reaction, with a sharp 2.1% fall playing through in the Russell 2000. Dow Transports have also fared poorly, with the index lower by 1.1%

2. Bannon subpoenaed: Many have questioned the falls, with some attributing an element of the anxiety to a New York Times article, who have reported on the Russia investigation and detailed that Robert Mueller “has subpoenaed Steve Bannon to testify before a grand jury as part of the ongoing Russia investigation. First person in Trump’s inner circle known to have received a grand jury subpoena.” Whether this was genuinely the trigger or not or whether we have seen just some good old fashioned profit taking, it’s also worth highlighting that many were questioning why S&P 500 futures were so strong going into the cash session in the first place.

3. Market moves: We have seen is a slight pick-up in inter-market correlations, with US equities headed lower, implied volatility moving higher (the VIX is up 13.4% at 11.5%) and the USD has lost ground, with USD/JPY falling from ??110.85 and now resides at ??110.28. EUR/USD, which had moved lower and into $1.2195 on the back of German political concerns and talk reports the ECB will be less hawkish (than many have positioned for) at next week’s central bank meeting, is now sitting up at $1.2272 and eyeing a convincing break of $1.2300. Although, the moves have also been influenced by Bundesbank president Weidmann, who unsurprisingly detailed “ending asset purchases this year would be appropriate”.

4. US: There has been little change in US Treasuries on the day, in fact, the 2- and 5-year part of the Treasury yield curve are a touch higher and subsequently we can see a slightly flatter yield curve as a result, with a slight outperformance from the long-end. There has been little anxiety to hold one-month paper ahead of Friday’s government shutdown. We can also see that US 10-year ‘real’ (or inflation-adjusted) yields are lower by 2 basis points and again this is hardly going to compel a market in search of yield to reverse their ever bearish view on the USD. Still, the moves in fixed income are quite sanguine relative to the intra-day sell-off in equities and we can see little change in high yield credit markets either.

We can also see that volumes have been sizeable too, in fact value traded in the S&P 500 was 33% above the 30-day average, with poor breadth and we find 72% of stocks lower on the day. Within the sectors, we can see that despite good numbers from Citigroup, the financial sector is -0.2% on the session and all eyes now fall upcoming earnings from Bank of America (who report at 22:45 aedt) and Goldman Sachs (23:30 aedt), to see if they can stabilise this ship. Energy has been hit, with the sector lower by 1.2%, clearly reflecting a space that has performed well and with Brent and US crude lower on the day naturally we are going to see elevated risks of profit taking. It’s the S&P 500 materials sector that probably interests the most here, with the space falling 1.2% and is the worst performing sector in the S&P 500 despite no real sizeable moves in spot iron ore (-1.1%), iron ore futures (-0.8%), copper (unchanged) and gold (-0.2%). So, there has been some trimming back on exposure to growth stocks, and perhaps some rotation into more defensive earnings streams, with gains seen in staples, healthcare and REITS.

5. ASX: It all makes for an interesting, yet fairly bleak open for the ASX 200, where our opening call currently sits at 6019 (-29 points). I highlighted the support in Aussie SPI futures into 6000, where a break was a trigger for a deeper move lower and this is playing out here, although I’d expect some support to kick in, should SPI futures (currently 5967) fall into the 5940/30 region through the session, which seems a fairly low probability anyhow given we have seen buying coming back into the market from 06:45 aedt. Energy found few friends yesterday, with the ASX 200 energy sector lower by 1.6% and it promises to be another tough day for those overly long the space, as it will for materials, where BHPs ADR indicates an open some 2.3% lower. Banks will outperform, although one can still expect a negative open and we should see CBA open around 0.5% lower. Given what we have seen in US equities it seems logical to believe we will see staples, REITS and utilities find some strength, as investors trim back some of their exposures to commodity names and into stocks with more defensive earning streams and predictable cash flow.

6. What’s on today: The event risk on the docket today seems likely to be overlooked by traders and investors questioning if the reversal in US equities, at least when put into context of low implied volatility, is a one day affair or whether this manifests on itself into something more sinister. If we take a step back and assess, nothing has really changed, so we have to believe that pullbacks will be sought. So, in theory Aussie data in the form of Westpac consumer confidence, home loans and investment lending shouldn’t influence too greatly and the AUD/USD, which has moved 30 points higher from an earlier low of $0.7937 is more likely to take its direction from the CNY and commodity moves.

7. Bitcoin: Bitcoin and the wider crypto space is also firmly on the traders radars after another punchy move into the low 11,000, with increased regulation from China and Korea hitting sentiment. Rallies, it seems are to be sold given the trend.

8. Market watch:

SPI futures down 37 points or 0.6% to 5955

AUD -0.1% to 79.58 US cents

On Wall St: Dow -0.2%, S&P 500 -0.3%, Nasdaq -0.5%

In New York, BHP -2.7% Rio -3.1%

In Europe: Stoxx 50 +0.3%, FTSE -0.2%, CAC +0.1%, DAX +0.4%

Spot gold -0.5% to $US1333.66 an ounce

Brent crude -1.5% to $US69.24 a barrel

US oil -0.9% to $US63.72 a barrel

Iron ore -1.1% to $US75.71 a tonne

Dalian iron ore -0.8% to 531.5 yuan

LME aluminium -1.7% to $US2189 a tonne

LME copper -1.8% to $US7078 a tonne

10-year bond yield: US 2.54%, Germany 0.56%, Australia 2.77%

This column was produced in commercial partnership between Fairfax Media and IG

This story Administrator ready to work first appeared on Nanjing Night Net.

Man hops down mine shaft to save a wallaby and her joey

Man hops down mine shaft to save a wallaby and her joey Wildlife rescuer Manfred Zabinskas of Five Freedoms Animal Rescue abseils down a mine shaft on a private property in Kangaroo Flat. Picture: SUPPLIED
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The wallaby inside the mine shaft in Kangaroo Flat. Picture: SUPPLIED

Wildlife rescuers said it was a miracle the wallaby, which had a joey in its pouch, was found. Picture: SUPPLIED

The wallaby, which has been tranquilized, is carefully looked over as she is placed into a ‘roo bag’ for transportation. Picture: SUPPLIED

TweetFacebookPictures: SUPPLIEDA JOEY is recovering after its mother fell down an open mine shaft on private property in Kangaroo Flat.

Wildlife Rescue and Information Network volunteer Rachael Bennett was notified of a wallaby stuck about nine metres below the property’s surface yesterday afternoon.

She said the people who discovered the wallaby had done all within their power to help the stricken animal.

“They put water down there for it, the put fruit down there,” Mrs Bennett said.

Retrieving the wallaby was the one thing they could not do.

It was obvious to Mrs Bennett she too would need to call for help to get the job done.

“I knew it was a job for Manfred,” she said.

The mine shaft in which the wallaby became stuck. Picture: SUPPLIED

Manfred Zabinskas, of Five Freedoms Animal Rescue, had to abseil down the mine shaft to free the wallaby.

The wallaby was sedated via tranquilizer dart before Mr Zabinskasventured into the shaft.

“We got her okay,” he said.

“At the moment she’s looking really good.”

But there was some concern the wallaby had sustained an injury to her tail.

Mr Zabinskas said the wallaby was being cared for by a friend and was under observation.

The wallaby’s joey, which only weighed about 330 grams, was being cared for separately.

Mrs Bennett said the members of the public who found the wallaby were able to recover the joey.

She said its mother had removed the baby from her pouch in her distress.

The joeywas handed over to WRIN for care.

The wallaby had no way of freeing itself from the mine shaft, which was about nine metres deep. Picture: SUPPLIED

Though the joey was still very young, Mrs Bennett said it was of a viable age to be cared for outside of its mother’s pouch.

She said the joey and its mother would have faced an awful fate, had they not been discovered.

“It was an absolute miracle she was found,” Mr Zabinskas agreed.

A brown snake was rescued from a water well about 400 metres from the mine shaft containing the wallaby.

The rescue did not come soon enough for a deceased echidna sharing the same well as the snake.

Coliban Water, which owns the property, said it had no plans to cap known mine shafts at the site.

“This is a closed sitewhere access is regulated,” a spokesperson said.

“We actively discourage entry to site due to a number of safety concerns.”

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Hospital’s domestic violence program could go statewide

PILOT SCHEME: MLHD manager priority populations Emma Field says a Wagga pilot program for domestic violence could go statewide.A Wagga pilot program offering swift, specialised support to domestic violence victims may go statewide.
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The scheme, which is based in the emergency department of Wagga Rural Referral Hospital, offers domestic violence victims the help of specially trained staff within an hour of their arrival.

MLHD manager priority populations Emma Field said a team of 25 people were specifically trained to provide support not only in domestic violence, but also in sexual assault.

Ms Field said the Wagga approach was being examined at a ministerial level.

“We always knew that emergency department played a pivotal role in providing a response to women experiencing domestic violence,” she said.

“Now, within an hour, a domestic violence victim will be sitting in one of our family rooms with a trained psychologist or social worker, who is able to identify their individual needs.”

Currently, the MLHD is recruiting to fill two counselling positions which have been vacant since December.

Wagga is widely reported to have high rates of domestic violence.

In 2016, 428 Wagga residentswere convicted of a domestic violence-relatedoffence. In that same year, the city recorded a36.7 per cent increase in incidents of domestic violence.

CSU academic Andreia Schineanu, with Lauren Darley-Bentley from Wagga Women’s Health Centre, is conductingThe DV Project: 2650, a study into attitudes to domestic violence in Wagga.

They have spoken to 1083 people, and found four out of five believed domestic violence was a common and serious issue.

DrSchineanu is concerned about the vacant MLHD counsellors positions, as well as the levels of services available generally in Wagga, especially in the wake of the recent Hollywood scandals which she felt could encourage women everywhere to speak about their own experiences.

“Yes, it probably will encourage ordinary women to speak up. The only issue with that is, to be honest, we don’t have the services on the ground to cope with an influx of new clients who feel able to disclose and address their harassment and abuse,” she said.

Call 1800 RESPECT, NSW Rape Crisis hotline on1800 424 017 or Wagga Women’s Health Centre on(02) 6921 3333.

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Wallaby helped catch the Harbour Bridge wallaby

afr 23rd december 2014 Nick farr jones in his sydney office photo by louise kennerley At the test (1st) Rugby Union between Australia and Sth Africa. Nick Farr-Jones behind pack. July 31, 1993. (Photo by Craig Golding/Fairfax Media).
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Apparently it takes a (former) Wallaby to catch a wallaby.

About 5am on Tuesday, a wallaby decided to hop over the Sydney Harbour Bridge, travelling south before taking the Cahill Expressway towards the Conservatorium.

Also on the Harbour Bridge on Tuesday morning was former Wallabies captain Nick Farr-Jones, who decided to help out.

“The police were trying to capture it as you would on the bridge, and they were having trouble so I just did my best to help them,” he told 2GB.

Farr-Jones, who made 63 appearances for the Australian rugby union team, including 36 as captain, said he was heading to work at Circular Quay when he noticed police on the bridge.

“It’s unprecedented trying to grab a hold of a kangaroo on the Harbour Bridge,” he said.

“[There was] a bit of chaos, but when you realised it was a wallaby it was really unusual.”

The animal, an adult male swamp wallaby, was eventually rounded up and taken by mounted police to Taronga Zoo in a horse float.

“It was quite distressed, being held by two of the mounted police,” said senior vet Larry Vogelnest, who anaesthetised the wallaby before examining it thoroughly.

“Fortunately there didn’t seem to be any significant injuries; it had some minor grazes on its face and its hind legs.”

The animal was given some medication and put on a drip, and staff at the Taronga Wildlife Hospital monitored it for signs of undiscovered injuries.

“These animals are quite susceptible to stress, and it causes muscle damage so I don’t know whether that’s happening,” Dr Vogelnest said.

However, in a statement on Wednesday morning, the zoo said the wallaby had “done well overnight”.

“We would like to release him as soon as possible, when he is well enough,” Dr Vogelnest said.

“We have not yet confirmed where; we will find a suitable environment around Sydney but not too close to the city.”

It was initially believed the wallaby might have come from the nearby Cammeray Golf Course, but greenkeepers said they had never seen wallabies on the course.

Kristy Harris, an office manager for wildlife rescue organisation WIRES said that, while swamp wallabies were common on the northern beaches, they were rarer on the north shore.

“We had one that showed up in the middle of Chatswood, in the mall in 2016, but generally we don’t really see them,” Ms Harris said.

However,wallabies are becoming more common around Sydney, Ms Harris and Dr Vogelnest both said, due to rapid development of Sydney’s suburbs.

“There are more and more of these wallabies turning up in bushland close to the city,” Dr Vogelnest said.

This story Administrator ready to work first appeared on Nanjing Night Net.