Haslingden in ASIC sights

The corporate regulator is expected to examine share trading by ­Ardent Leisure director David Haslingden, Diary understands.

The corporate regulator is expected to examine share trading by ­Ardent Leisure director David Haslingden, Diary understands. The former Nine Entertainment chairman picked up $303,000 worth of Ardent securities one week before the theme park operator announced it planned to sell its marina business, which saw the stock surge by 12 per cent on Tuesday. Haslingden spent $303,000 on a parcel of shares now worth $343,500 based on last week’s close price of $2.29. A spokesman for ASIC said: “We reserve the right and, as a matter of course, will always examine all matters in and around any major companies.” It wouldn’t be Haslingden’s first brush with ASIC on director share trading. While Haslingden was chair of Nine he signed off on the sale of $1.5 million in shares of the broadcaster by then boss David Gyngell just two weeks ahead of a shock profit warning last year. ASIC investigated the matter and cleared Gyngell of any wrongdoing. It remains to be seen whether ASIC will cast its eye over Haslingden’s Alaskan Husky, Tido. Any savvy, or otherwise, share trading under Haslingden’s name could likely be put down to the canny canine. Sources said that after a big week in the ratings, Tido was known for giving rousing speeches to his former Nine troops during raucous parties at the network’s Willoughby HQ. A spokesman for Ardent said ­Haslingden’s share trading was endorsed by chairman Neil Balnaves, within an approved trading window, and in compliance with the company’s policy. Haslingden declined to comment.

Gordon ups Nine stake

Bermuda-based billionaire and WIN Corporation owner Bruce Gordon has boosted his economic interest in Nine, Diary can reveal. The shrewd dealmaker used a sophisticated financial instrument called an equity derivative contract to increase his shareholding last week from 4.3 to 4.9 per cent. This interest is in addition to Gordon’s 14.96 per cent stake of Nine’s ordinary shares; both interests are held in combination by Gordon and WIN. While the deal pushes the limits of current media ownership laws, industry observers said it did not breach the Broadcasting Services Act. The media regulator is understood to be closely monitoring the situation. In recent years, predators have used equity-swap transactions to stalk target firms, without initially having to put up substantial amounts of capital. It’s understood that if Gordon was to expand his position in Nine via the derivative contract by a few more percentage points while retaining his ordinary shares in the company, the Australian Communications & Media Authority would consider it a breach of the reach rule. ACMA considers a range of control mechanisms when examining such matters, including company interests and board appointments.. If Gordon went above 19.9 per cent of Nine, he would be compelled to launch a takeover bid.

Llewellyn’s reno AVO

Controversy seems to follow Mark Llewellyn, or vice versa. The Seven news executive was axed from the Sunday Night program following a newsroom punch-up in 2014 and now Llewellyn’s neighbour on Sydney’s eastern beaches has taken out an apprehended violence order against him after a row over renovations. But this time around things may not be as clear as they seem. It’s understood the order will be contested when it goes back to court on June 27. It’s been reported thatThe Reno Rumble kicked off because Llewellyn’s neighbour Barbara Urquhart ­believed his planned alterations would wipe out her views of Bronte Beach. Ms Urquhart’s daughter Jennifer took out an interim ­apprehended violence order on behalf of both women in January. AVOs can be easy to attain, ­requiring a signed statement at the local police station, but are much harder to preserve because it requires affidavit evidence and higher burden of proof.

Media law showdown

Three years after heads of media organisations expressed strong objections to the Gillard government’s proposed media laws, the stage is set for another round of clashes in Canberra this week although they are unlikely to be as fiery as the 2013 Senate committee hearings. Back then, Seven proprietor Kerry Stokes spoke for many when he asked: “What have we done that would warrant such legislation being passed? What have we done that would warrant your intrusion into our company in this way?” Stokes was commenting on proposals that included a super regulator with far-reaching powers to fine and imprison journalists. The Seven West Media chairman is not expected to attend this week’s hearings. Fortunately, press freedom is not at stake. But Seven chief Tim Worner will attend with chief lobbyist Bridget Fair and Ben Roberts-Smith, general manager of Seven Queensland, the jewel in the crown of regional broadcasting. News Corp is likely to be represented by head of corporate affairs Campbell Reid, and head of policy and government affairs Georgia-Kate Schubert. The regional broadcasters Prime Media, Southern Cross Austereo, and WIN Corp will send Ian Audsley, Grant Blackley and Andrew Lancaster. The latter famously changed his tune on media reform last year, adopting a position completely at odds with his 2013 appearance before a committee hearing. Lancaster warned that news services and jobs were at risk if the government changed the laws. He told MPs that he was “inclined to be negative about the proposed removal of the reach rule.” WIN is now seeking to abolish the regulation. Foxtel spinner Bruce Meagher and pay-TV industry body chief Andrew Maiden will argue the case for changes to anti-siphoning.

Google faces blowtorch

Staying with WIN, the Australian Tax Office has revealed the tax ­arrangements of various media companies in the 2013-14 financial year. The privately held company had revenues of $307.3 million and paid $10.9m in tax giving it an ­effective tax rate of 28.16 per cent, a similar rate to its peers. But the real villain is Google Australia, which paid $9.2m in corporate tax on total revenues of $357m and a taxable income of $90m — an ­effective tax rate of 10 per cent. It comes after ANZ Banking Group hired the head of Google’s Australian operations, Maile Carnegie, to help it catch up to rivals in the multi-billion-dollar tech arms race between the big banks.

Turnbull in Veep

Not even when Anthony Albanese borrowed lines from The American President did things get as zesty as the reaction to Malcolm Turnbull’s use of a “meaningless bullshit” slogan from political satire Veep, The Australian’s James Jeffrey noted last week. American actress and Veep star Julia Louis-Dreyfus has since waded into the outbreak of excitement, tweeting “I am dumbstruck.” Veep was masterminded by ­Armando Ianucci, whose earlier show The Thick of It could ­provide plenty of salty language for Turnbull staff to mine.

Scott’s parting word

Outgoing ABC boss Mark Scott is expected to be interviewed by Media Watch host Paul Barry this evening in a valedictory show before he hands the reins to Michelle Guthrie next week. It comes as Sky News prepares to announce Scott’s nemesis and Diary’s colleague Chris Kenny will appear on the pay-TV channel on three nights, with an extra night on Monday at 8pm. Currently airing at 8pm on Fridays and Sundays, Viewpoint has won plaudits for going against the gallery zeitgeist, and giving a platform to women including Miranda Devine and Rita Panahi in a male-dominated industry.