Nine CEO resigns amid workplace allegations
For the second time in five years, Nine Entertainment (ASX:NEC) has lost its CEO with the taint of non-financial issues hanging over the company.
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Nine Entertainment reports tough year for media sector
Nine Entertainment (ASX:NEC) has confirmed that the country's media sector is struggling, with declining revenue and earnings. However, unlike its rivals, Seven and Ten, Nine will still pay a dividend, albeit at a lower rate of 8.5 cents per share for the year.
Read MoreNine Entertainment joins dividend cut trend amidst revenue decline and market challenges
Nine Entertainment (ASX:NEC) has become the latest addition to the growing list of companies reducing their dividends during this June 30 reporting season.
Read MoreLocal Media on a Sticky Wicket Right Now
Analysts will be watching the Nine presentation at the Macquarie conference to see by how much Seven’s experience in weakening revenues shows up in its TV and newspapers.
Read MoreHefty Payout Increase Sees Nine Trump Seven
Nine Entertainment will match rival Seven West Media in buying back up to 10% of its shares but also go one better by paying its shareholders a record dividend.
Read MoreSeven West, Nine Entertainment Talk Up Prospects
Updates from two of our major locally listed media groups, Seven West Media and Nine Entertainment, with both forecasting strong rises in earnings for the June full financial year.
Read MoreNEC – UBS rates the stock as Buy
The Buy rating and $3.90 target are unchanged.
Read MoreNEC – UBS rates the stock as Buy
UBS retains a Buy rating and raises the target to $3.85 from $3.10.
Read MoreNEC – UBS rates the stock as Buy
Buy rating and $3.10 target unchanged.
Read MoreNine Smacks it out of the Park
Nine Entertainment joined rival Seven West Media and regional operator Southern Cross in reporting a solid rise in earnings and a net profit after tax of $183 million for the year to June.
Read MoreNEC – UBS rates the stock as Buy
Nine Entertainment’s rating is upgraded to Buy from Neutral and the target is raised to $3.10 from $3.00.
Read MoreNine Names Sneesby as New CEO
Nine Entertainment Co has appointed Mike Sneesby – head of Stan and a former telecommunications executive – as the new CEO to replace the departing Hugh Marks from April 1.
Read MoreNine Shares Touch All-Time High on Strong Report
Strong rises in earnings and cost cuts in its key TV, publishing and Stan video streaming business, helped Nine Entertainment report a 79% rise in net earnings for the six months to December.
Read MoreInvestors Switch On As Nine Upgrades Earnings Forecast
Shares in Nine Entertainment Co edged up 2.7% yesterday after the company produced a second trading update in just over a month.
Read MoreNine CEO In Surprise Resignation
Two days after revealing that his company was heading for a surprise 30% plus lift in operating earnings for the six months to December, Nine Entertainment Co, Hugh Marks quit on Saturday.
Read MoreA Tale Of Two Media Companies: Fortunes Diverge For Nine & Seven
The annual meetings of Nine Entertainment and Seven West Media gave us very different pictures of current trading conditions at the start of the 2020-21 financial year – on the one hand Nine has found more revenue, cut costs and is now looking at a much better result for the six months to the end of December, forecasting profit rise of “around 30%, according to CEO Hugh Marks in an update.
Read MoreStan Stands Out But Nine Reports Big Loss After ‘Challenging’ Year
Nine Entertainment has reacted to the impact of COVID-19 and the lockdowns and lower revenue and earnings with $702 million of impairments and a lower dividend.
Read MoreITV’s Profit Collapse Provides A Likely Preview For Local FTA Sector
ITV, the UK commercial free to air TV broadcaster has confirmed that it will drop its final dividend for2020 after revenue slumped sharply in the six months to June, sending pre-tax earnings down more than 90%.
Read MoreNEC – Credit Suisse rates the stock as Outperform
Preliminary numbers for FY20 signal an EBITDA range of $390-410m. Credit Suisse considers this outcome reasonable. Net debt is also broadly consistent with expectations.
Read MoreCoronavirus Rattles Fragile Media Sector
ITV, Britain’s main commercial TV broadcaster and production group has sent 800 staff – 15% of its workforce on leave as ad revenue tanks in the wake of lockdowns and social distancing rules designed to slow the spread of COVID-19 and bring it under control.
Read MoreVirus Infects Already Fragile Media Sector
Stand by for a bailout of the Australian media sector. A decision on whether a recapitalisation will happen at oOh!media is due to be known today while shares of national radio and regional TV group, Southern Cross Media have collapsed.
Read MoreVirus Havoc: Myer Slumps, Nine & Bluescope Drop Guidance, Afterpay Under Siege
Shares in troubled department store Myer plunged by more the 44% yesterday for no apparent reason.
Read MoreNo Growth Nine Still The Top Of The Media Pile
Unlike Seven though, Nine remains a profitable, viable business, but even so the media sector – from print to broadcast TV and radio, not to mention digital – is seeking a slide in spending.
Read MoreNEC – Credit Suisse rates the stock as Outperform
The extent of the TV weakness, highlighted at the AGM, was greater than Credit Suisse expected. The company is now guiding to low single-digit growth in FY20 operating earnings (EBITDA). Growth is expected to be skewed to the second half.
Read MoreSoft Ad Market Sinks Nine Entertainment
Nine Entertainment shares were sold off after the company revealed a sharpish downgrade in first-half earnings because of the slump in TV and radio broadcasting.
Read MoreSouthern Cross Downgrade Sparks Media Sector Sell Off
The listed Australian media sector took a hammering yesterday when the best performed of the handful of companies – radio and regional TV operator, South Cross Austereo warned of a sharp slowdown in revenue in the first months of 2019-20.
Read MoreHousing Downturn Hits Domain As Nine Unloads Regional Papers
While Nine shares rose 2% to $1.77 in early trading on the news of the sale of ACM, Domain shares slid nearly 8% at one stage after it revealed a 13% slide in third-quarter property listings and a fall in revenue for the third quarter.
Read MoreFederal Court Approves Nine-Fairfax Deal
The Nine Entertainment takeover offer for Fairfax Media will complete shortly after a scheme of arrangement was yesterday approved by the Federal Court.
Read MoreInvestors Shrug Off Last Ditch Attempt On Fairfax-Nine Deal
Fairfax Media and Nine Entertainment shares rose yesterday after Fairfax shareholders ignored a last minute attempt to destabilise the $2.8 billion deal by former Fairfax property executive, Anthony Catalano.
Read MoreACCC Ticks Nine Takeover Of Fairfax
The Nine Entertainment takeover of Fairfax Media has been given the green light, but it won’t be happening as a $4 billion deal as many media reported yesterday and this morning – at least it will be around $3 billion.
Read MoreDownbeat Domain Adds To Media Gloom
The fall out from last Friday’s trading updates from Nine Entertainment and Fairfax Media ahead of the release of the documentation for their planned takeover deal continued to batter the media sector yesterday on the ASX.
Read MoreDownbeat Updates See Fairfax, Nine Shares Slump Ahead Of Merger
Oops, there’s $800 million or so off the value of the proposed Nine Entertainment takeover of Fairfax Media after downbeat market updates from both companies on Friday (especially Nine) ahead of the release of documentation for the deal.
Read MoreNine Lifts Profit 27% As Digital Subscribers Boom
A solid performance for Nine Entertainment Co in 2017-18 with the company lifting net full year profit by 27% in what will be its last profit as a standalone TV business ahead of the agreed takeover of Fairfax Media.
Read MoreNine Entertainment The One Again
Nine Entertainment has cleared away from the rest of the media sector so far as revenue, profits and returns to shareholders are concerned.
Read MoreWritedowns Push Nine Into The Red
Nine Entertainment reported a loss of nearly $330 million in one-offs charges (most were announced earlier in the year), the largest being a write-down on its television broadcast licences and provision to exit its Warner Bros contract.
Read MoreAdvertisers Tune Out Of Nine
Nine Entertainment (NEC) has joined its rival, Seven West Media (SWM) in forecasting continuing pressure in the TV advertising market for 2016-17. Nine’s annual shareholder meeting was told yesterday by CEO Hugh Marks that its metro free-to-air advertising revenue expected to suffer a low single-digit fall in the year to June 30, 2017.
Read MoreNine Exits Southern Cross Media
The Nine Network has abandoned its takeover ambitions (at least for the time being) for Southern Cross Austereo. This morning it sold its 9.9% stake in Southern Cross for $1.54 a share. Seeing Nine paid $1.15 a share earlier in the year, that’s a nice profit of around $30 million before financing costs.
Read MoreNine Disappoints As Southern Cross Stars
We saw contrasting 2015-16 results and outlooks for the next year from the Nine Network (NEC) and its new regional TV affiliate, Southern Cross Austero (SXL) yesterday.
Read MoreNine No Longer The One
Nine Entertainment shares slumped 20% yesterday after it revealed a sharp fall in March quarter revenues and all but said the 2015-16 profit would be lower.
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