Love that 9Gem HD logo
Question is, why would they bother making such a change to their schedule? I can understand adding Imparja-made content or infomercials into their schedule, but this??
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The absence of 9Life appears to be the problem, so Imparja and SCA are adding extra Australian content to their Nine multichannels in those areas that do not have 9Life.
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Ah! And repeats count for those purposes??
I just noticed in this Video Imparja only had 1 set of Nine Dots… Is that an error?
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Nah, their presentation package at the time had 3 dots in the design, either horizontally or vertically adjacent to the Imparja text. Ironically, when they sided with Nine, they only needed to add another 6 dots to the watermark.
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Having a read of the Imparja annual report for 2016-2017. Imparja values its television licence at $3,000,000. However the auditor Deloitte has disputed this valuation stating that as the licence was granted free and there is no active buyer then it should be valued at zero.
The annual reports are on the ACNC website.
https://www.acnc.gov.au/RN52B75Q?ID=BAE21CF0-EF9D-4884-8F5E-F3263ED42E48&noleft=1
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I’d buy it for a dollar.
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That’s over estimating it’s actual value. 
The same could be said for all TV stations nowadays, sadly.
Reading through its constitution - I’d say being nothing more than a relay of QTQ/NTD is a hell of a breach of its objects in the first few pages.
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Given how marginal their business is at this point in time, I doubt anything will happen to them.
I do wonder how things would’ve turned out if they had managed to buy NTD.
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If they had, NTD would be going down the drain with them. Local TV news would’ve completely died years ago, reduced to noodle updates just like Imparja.
Imparja has no money stream from a network of other stations, it’s on its own. Whereas SCA covers the east coast and its Seven markets, WIN covers almost all regional markets, PMG covers the east coast and WA. They’re able to prop up their weakest markets with their stronger ones.
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If they’re getting any sort of government grants, that should be looked into.
If they’re not receiving any, then it’s a simple case of being just another shitty TV station not doing what it should be done by the people to which their license area covers. Like every other TV station in regional Australia.
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An interesting statement - I wonder how Imparja have determined the licence to be valued at $3m
(Interestingly, the auditor has raised it over consecutive audits too)
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It’s really just comes down to Accounting technicalities.
The licence would definitely have some value since it’s existence allows the owner the generate advertising from the sale of ads. There are many ways to calculate this, and given the values claimed by other networks, and historical sale prices the value they’ve determined seems reasonable.
However, Accounting standards say that intangible assets such as licences can have a maximum reported value of either the amount paid for it (in this case nothing since Imparja got it for free) or an impending sale price (also nothing since it’s not on the market). That doesn’t mean it doesn’t have value, just that it can’t be reported. The standard is actually debatable in merit and may possibly change in the next decade or so.
So basically all that’s happening here is that Imparja are telling their stakeholders that the licence has a financial value to them, while the auditors are saying that it’s inconsistent with Accounting standards and therefore how other companies are reporting.
While Imparja’s reporting is therefore technically incorrect, it’s probably not illegal and both sides of the story probably help paint a more accurate picture.
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I doubt there is any question whether the licence has a value, determining that value is always going to be difficult given there are only a finite number of licences and most of them are different in some form or another. The fallback to valuing them at acquisition cost is a sound practice even if it does mean you dont book a value against the licence.
A comment like that from the auditor is not necessarily a good thing - particularly over multiple years, the accounting standards (as out of touch as some of them are) need to be met.
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Imparja is now scheduling RBT in addition to The Block on 9Gem.
Today still airs on 9Go! at 10.30am.
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It’s good that they are getting the multichannel local quota they need, unlike the WIN and WIN/Prime owned Nine channels who have done nothing.
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