Hugh Marks

Nine and Fairfax announce $4bn merger

Commercial TV network Nine Entertainment this morning confirmed it had agreed a merger deal with one of Australia’s most venerable legacy media companies, Fairfax Media. The deal will see Nine take a controlling 51.1% stake in Fairfax, and will create a company with a combined market value of $4.2bn. The company will take the Nine […]

Nine bullish after loss of A$203m

The CEO of Nine Network in Australia claims an after-tax loss of A$203 (US$tktktktkt) is only part of restructure that will benefit “the entire business in the mid-term”. The broadcaster’s result for the last twelve months saw revenue of A$1.24 billion on EBITDA of A$206 million. However “specific items” after tax drove earnings to the […]

Commercial TV licence fees abolished in Oz

Australia’s commercial broadcasters have welcomed a government plan to abolish the television licence fees they currently pay. As of the 2017/18 Australian fiscal year, channels such as Network Seven, Nine and Ten will no longer pay commercial TV licence and datacasting fees, but instead pay a spectrum-based charge. This will reduce their payments from around […]

Nine records massive TV writedown

Nine Entertainment has made another writedown against the value of its free TV business after revenues declined in the last six months of 2016. The media group said it was making a A$260 million (US$200 million) write down in the wake of half year figures that showed a 5.3% slide in sales. Nine also had […]

Nine programming chief exits

Andrew Backwell has resigned from his programming and production role at Australian commercial broadcaster Nine Network. Nine’s managing director of programming and production will leave the network at the end of October, according to TV Tonight, which broke the news today. Backwell will reportedly pursue new career opportunities, with other Nine executives taking up his […]

Nine ends Warner Bros. deal as it posts profit

Australia’s Nine Entertainment has reported full-year profit of A$324.8 million, and has reached an agreement to end its output agreement with Warner Bros. Nine said it had managed to cut costs by A$62 million this year, despite an increase in sports rights costs, legal fees related to litigation with rival Seven Network and affiliate WIN, […]

Broadcast veteran Leckie exits Seven

David Leckie is leaving Australian commercial broadcaster Seven Network and will take a full-time role elsewhere. According to local news outlets, negotiations with Seven have ended with Leckie not renewing a multi-year agreement when his contract expires. Therefore, he leaves the broadcaster after 13 years on July 29. Seven has been the top rated Australian […]

TV legend Grundy dies at 92

Australian television legend Reg Grundy has passed away at 92. Reports say he died in Bermuda, where he lived, on Friday. Grundy (pictured above, in 1959; and below right) is credited with developing hugely successful Australian soap opera Neighbours, ground-breaking women’s prison drama Prisoner: Cell Block H (recently rebooted as Wentworth) and TVNZ’s Shortland St. […]

Haslingden steps down as Nine chair

David Haslingden has stepped down from his post as chairman and non-executive director at Australia’s Nine Entertainment Company. Peter Costello, currently an independent, non-executive director, will take over as chairman, effective March 1. This comes soon after Hugh Marks succeeded David Gyngell as CEO of Nine Entertainment, which owns Australian commercial channel Nine Network. Former […]

Apollo sells last Nine shares

Private equity group Apollo Global Management has sold its 9.82% shareholding in Australia’s Nine Entertainment Co. Apollo had already shopped a 13% stake to affiliates of Bruce Gordon, the owner of regional broadcaster WIN, this year. The firm has shed its last stake holding through a fully underwritten block trade, which was distributed to a […]