☕ Superb Owl

Good morning. It's Super Bowl Monday for Australian fans, with the game kicking off in a few hours. Here's a sneak peek of the 2023 ads, which cost $7m per 30 seconds this year.

Good morning. It's Super Bowl Monday for Australian fans, with the game kicking off in a few hours. Here's a sneak peek of the 2023 ads, which cost $7m per 30 seconds this year.

Random fun(?) fact... 9 of the top 10 most watched TV moments in the US were Super Bowls. The other one? Apparently it was the series finale of Channel 10's favourite mid-afternoon show filler, M*A*S*H.

LOI Subscriber #TBD

MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: After a strong run over the last 2 years, News Corp saw revenue and earnings growth decline in the second quarter.

The company missed revenue estimates ($2.52bn vs $2.55bn) and announced a 5% headcount reduction that'll save them $130m a year.

Their results were released in parallel to REA's — given they're the majority owner. REA hit guidance but warned that the market's expected to be soft until 2024. You can blame interest rates for that one.

TRADING FLOOR

M&A:

  • Platinum Equity has Gresham Partners helping with the due diligence and funding for its Jeld-Wen Australia bid. (AFR)

  • Carsales.com Ltd is understood to be mulling the buyout of another of its offshore associates. (AFR)

  • Shania Twain's link to Newcrest’s $24.4b takeover offer. (AFR)

  • KIIS FM owner HT&E is ripe for takeover but its scope for growth is limited in the digital world. (The Australian)

  • Dexus Property Group is in the investor spotlight as its buyout scrutiny turns to real estate. (The Australian)

  • TEG Group is expected to launch the sale process for the operation in April. (The Australian)

  • Woolworths pours more investment into PetCulture. (The Australian)

Capital Markets:

  • Konvoy Kegs is chasing a $25m capital injection via Grant Samuel. (AFR)

  • Goldman Sachs and UBS so far are considered a sure bet to land a mandate to float Virgin Australia. (The Australian)

VC:

  • CryptoSpend is looking to raise $5m in a Series A. (StartupDaily)

Other:

  • Brookfield’s PE unit has had Healthscope kick off talks with banks and credit funds about refinancing. (AFR)

THE QUICK SYNC

    TOGETHER WITH POWER WRITING

    The way you write has a huge effect on your job... yet no one ever teaches us how to write for work.

    In fact the last time you probably ever received any formal training on how to write was in high school English class. But work is nothing like Year 12 English.

    That's especially true in this new modern world where:

    • Attention spans are shrinking.

    • People's habits are shifting.

    Learn the techniques to be concise and precise so you get promoted.

    THE WATERCOOLER

    THE TRADE

    • Corporate Development Manager — Suncorp (Learn More)

    Looking to hire someone that would read LOI?

    Post your roles on LOI jobs board.