Nine Entertainment Co.

Aussie SVOD service calls in administrators

Embattled Australian subscription on-demand service Quickflix has entered into administration. The Australian Securities Exchange-listed company has appointed partners from Ferrier Hodgson as voluntary administrators, though trading continues as usual. Quickflix’s New Zealand arm is not included in the administration process. Quickflix said it had taken the move as its struggled to raise new capital due […]

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 […]

New CEO for Nine as Gyngell exits

David Gyngell’s run as CEO of Australian commercial broadcaster Nine Entertainment Co. is coming to an end. Hugh Marks (left) is to replace Gyngell (below right) on November 10, with the latter remaining on the board as a non-executive director. A CEO switch has long been expected, with industry veteran Marks first tipped for the […]

Marks tipped as Gyngell’s Nine replacement

Australia’s Nine Entertainment is reportedly poised to appoint a former Southern Star Entertainment CEO as its new boss. According to various local news reports, Hugh Marks (pictured) is expected to replace David Gyngell as chief executive of Nine Network’s parent company. Gyngell’s contract is up at the end of the year, and he has long […]

Nine profit warning leads to share price slump

Australia’s Nine Network saw its share price fall almost 20% after the broadcaster issued a profit warning to the market. Nine Entertainment Co., which operates Nine, revealed it expected to post earnings before interest, depreciation and amortisation of between A$285 million and A$290 million for the year ended June 30, 2015. This is down significantly […]

Australia’s Nine ups sales in ‘difficult’ market

The parent company of Australian free-to-air broadcaster Nine Network has upped revenue in its 2014 financial year. David Gyngell, CEO of Nine Entertainment, said it had posted ratings and revenue increases in “an increasingly difficult advertising market”. He added: “While the more recent advertising environment has been challenging, we are focused on improving the things […]

Nine, Fairfax prep A$100m SVOD service

Nine Network’s parent company is partnering with publishing group Fairfax Media to create a A$100 million (US$93.3 million) Australian subscription video-on-demand service. The service, StreamCo., has been in the works for the past year, with Nine Entertainment Co. Mike Sneesby (pictured) already in charge of the venture as CEO. Fairfax has now been confirmed as […]