Nine’s Google deal key to future of newspapers: outgoing CEO
Key Points
- Revenue ($m) 1165.1, down 2.6%
- Pre-tax profit ($m) 257.0, up 96.6%
- Net profit ($m) 181.9, up 108.4%
- Interim dividend (c) 5.0
- Date dividend payable April 20
Deals with Google and Facebook will ensure Nine’s publishing business, which includes The Australian Financial Review and The Sydney Morning Herald, will return to revenue growth and keep journalism jobs, chief executive Hugh Marks said as the parent company reported a net profit of $182 million.
The company, which has assets in television, radio and newspapers, defied the COVID-19 pandemic, reporting earnings before interest, tax, depreciation and amortisation of $355 million in the December half, up 42 per cent on the same period last year.
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