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Nine ditches SCA for WIN, striking new affiliate deal March 12, 2021 9:30 Nine Entertainment Co has ended its five year affiliation agreement with Southern Cross Austereo, instead returning to WIN for at least seven years in a deal which will see the regional media company pay Nine about half of its regional advertising revenue. Nine defected from WIN in favour of SCA in 2016, with that five year deal reportedly worth almost $500 million and ending SCA’s TV brand. WIN’s affiliation fee will be the same as that paid by SCA: approximately 50% of its regional advertising revenue. From 1 July, the contract will involve the promotion of Nine across WIN’s TV and radio assets, and WIN’s provision of a sales services for Nine in northern New South Wales and Darwin. ....
Mike Sneesby’s elevation in focus: What’s next for Nine, Stan, and Janz After a four month hiring process, Mike Sneesby is Nine s new CEO. Here, Mumbrella s Brittney Rigby unpacks what his departure from Stan means for the streaming business, whether there s any substance to reports of a fractious board, and why Sneesby s first big challenge will be getting his competitor applicants to stick around. March 3, 2021 5:19 For the past seven and a half years, Mike Sneesby has led one of Netflix’s strongest competitors. On 1 April, the CEO of the $1 billion Stan will be elevated to CEO of the $5 billion Nine, and his remit will expand significantly, stretching across the unfamiliar (to him) publishing, free-to-air, and radio businesses. ....
March 2, 2021 10:21 Former Fairfax director Patrick Allaway has announced his resignation from the Nine Entertainment Co board, just hours after the media company’s mastheads published an exclusive story detailing an investigation into deputy chair Nick Falloon over the alleged misuse of a corporate golf membership. In a statement posted to the stock exchange just before 6pm last night, the business said the resignation will take effect in April, allowing “for an orderly transition … in light of the appointment of the new CEO and succession arrangements”. Marks and CFO Maria Phillips delivered the financial results last week. Credit: Yianni Aspradakis Last week, outgoing chief executive Hugh Marks delivered his final results at the company, for the six months ending in December: net profit surged by 79% to $182 million, leading to a record-high share price and, for the first time, a market capitalisation of above $5 billion. ....
Falloon and Allaway, along with Mickie Rosen, made up the Fairfax faction on the board and do not always see eye-to-eye with the Nine directors led by the chairman, Peter Costello, sources said. The Sydney Morning Herald reported on Monday that Falloon was being investigated by his own company over allegations he allowed his son to use a corporate membership at a prestigious northern Sydney golf club. Falloon was reported as saying there were no issues with his use of any membership and he had not spent a dollar of company money. There is no suggestion Falloon has misused any company funds. ....
Nine deputy chairman Nick Falloon under investigation over whistleblower claims We’re sorry, this service is currently unavailable. Please try again later. Dismiss Normal text size Advertisement The deputy chairman of Nine Entertainment Co and one of the most prominent media figures in corporate Australia, Nick Falloon, is being investigated by his own company over allegations he allowed his son to use a corporate membership at a prestigious northern Sydney golf club. Nine received an anonymous email in early February accusing Mr Falloon, who is also the chairman of online property group Domain, of giving his son Troy Falloon access to a corporate golf membership at Terrey Hills Golf and Country Club from the middle of 2018, according to multiple sources familiar with the investigation who spoke on the condition of anonymity. ....