Nine chief executive Hugh Marks said advertisers are coming to terms with the COVID-19 pandemic – which forced the media company into a loss – and are positioning for a post-crisis recovery.
Unveiling a full year loss of $575 million marred by $702 million of one-off items, Mr Marks said Nine hoped to take advantage of advertisers returning to the market. Nine booked $591 million of impairments to the value of the free-to-air television business and Domain, courtesy of the coronavirus.