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Investments - Schedule of Investments (Detail)
AUD in Millions, $ in Millions
Dec. 31, 2015
USD ($)
Dec. 31, 2015
AUD
Jun. 30, 2015
USD ($)
Schedule of Investments [Line Items]      
Available-for-sale securities [1] $ 159   $ 185
Cost method investments [2] 204   205
Total Investments 2,288   2,379
Other Equity Method Investments [Member]      
Schedule of Investments [Line Items]      
Equity method investments [3] 194   168
Loan Receivable from Foxtel [Member]      
Schedule of Investments [Line Items]      
Other investments 329 [4] AUD 451 345 [4]
Foxtel [Member]      
Schedule of Investments [Line Items]      
Equity method investments [5] $ 1,402   $ 1,476
Equity method investment, ownership percentage [5] 50.00% 50.00%  
[1] During fiscal 2015, the Company purchased a 14.99% interest in APN News and Media Limited ("APN") for approximately $112 million. APN operates a portfolio of Australian and New Zealand radio and outdoor media assets and small regional print interests.
[2] Cost method investments primarily include the Company's investment in SEEKAsia Limited ("SEEK Asia") and certain investments in China. In November 2014, SEEK Asia, in which the Company owned a 12.1% interest, acquired the online employment businesses of JobStreet Corporation Berhad ("JobStreet"), which were combined with JobsDB, Inc., SEEK Asia's existing online employment business. The transaction was funded primarily through additional contributions by SEEK Asia shareholders which did not have an impact on the Company's ownership. The Company's share of the funding contribution was approximately $60 million. In June 2015, the Company purchased an additional 0.8% interest in SEEK Asia for approximately $7 million, which increased the Company's investment to approximately 12.9%.
[3] In July 2014, REA Group purchased a 17.22% interest in iProperty Group Limited (ASX:IPP) ("iProperty") for total cash consideration of approximately $100 million. iProperty has online property advertising operations primarily in Malaysia, Indonesia, Hong Kong, Thailand and Singapore. In December 2014, REA Group sold Squarefoot, its Hong Kong based business, to iProperty in exchange for an additional 2.2% interest in iProperty. As of December 31, 2015, REA Group owned an approximate 22.7% interest in iProperty. On November 2, 2015, REA Group announced a proposed transaction to acquire all of the outstanding shares of iProperty it does not already own. iProperty shareholders can elect to receive A$4.00 per share in cash or A$1.20 cash and 0.7 shares in a newly-formed company, subject to a maximum 20% indirect equity interest in iProperty. The aggregate consideration for the transaction is expected to be approximately A$500 million (approximately US$350 million) and will be funded primarily from new debt facilities at REA Group expected to be approximately A$480 million, with the remainder from REA Group's existing cash. The transaction is subject to a number of standard conditions, including [court approval], no material adverse change and no prescribed occurrences, and is expected to be completed during the first quarter of calendar 2016. The acquisition of iProperty extends REA Group's market leading business in Australia to attractive markets throughout Southeast Asia.
[4] In May 2012, Foxtel purchased Austar United Communications Ltd. The transaction was funded by Foxtel bank debt and pro rata capital contributions made by Foxtel shareholders in the form of subordinated shareholder notes based on their respective ownership interests. The Company's share of the subordinated shareholder notes was approximately A$451 million ($329 million and $345 million as of December 31, 2015 and June 30, 2015, respectively). The subordinated shareholder notes can be repaid beginning in July 2022 provided that Foxtel's senior debt has been repaid. The subordinated shareholder notes have a maturity date of July 15, 2027, with interest of 12% payable on June 30 each year and at maturity. Upon maturity, the principal advanced will be repayable.
[5] The change in the Foxtel investment for the six months ended December 31, 2015 was primarily due to the impact of foreign currency fluctuations.