Business
Nine Entertainment reports $575m loss after ‘disappointing’ year – The Guardian
Revenue rises at streaming service Stan but slumps at company’s radio network Macquarie Media and at Sydney Morning Herald and Age
Nine Entertainment has declared a loss for the year of $575m after slashing the value of assets, including its TV license, amid a move by consumers towards streaming services.
The companys radio network, Macquarie Media, also had what Nine chief executive Hugh Marks called a disappointing year, with revenue falling in a year where flagship broadcaster Alan Jones was embroiled in controversy and left the company.
Marks said continued cost-cutting at the group might see the end of expensive TV p…
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