Nine’s sales boss Michael Stephenson resigns after tough year for media group
Nine Entertainment has lost another senior executive – the seventh high-profile departure in 2024 – with long-serving sales boss Michael Stephenson leaving after 18 years.
Nine Entertainment has lost another senior executive – the company’s seventh high-profile departure in 2024 – after long-serving sales boss Michael Stephenson announced on Wednesday that he is leaving the media giant after 18 years.
Mr Stephenson’s departure follows weeks of industry speculation about his future. Three weeks ago, when asked by The Australian about his rumoured departure from the company, he said: “I’m definitely not leaving Nine.”
In late October, Mr Stephenson fronted Nine’s annual Upfronts event, delivering a presentation to 1200 industry figures about the company’s sales strategy for 2025.
The sales veteran had been mentioned in some quarters as a possible replacement for former Nine chief executive Mike Sneesby, who left the media company on September 27 following a torrid year of internal scandals.
However, the Australian understands that Mr Stephenson was never seriously considered by the Nine board as the company’s next CEO.
Interim CEO Matt Stanton is seen as the frontrunner to replace Mr Sneesby.
Mr Stephenson is the latest executive to leave Nine in 2024, following the departure of disgraced news boss Darren Wick in March, company chairman Peter Costello in June, Mr Sneesby in September, communications director Vic Buchan in October, and newsroom directors Simon Hobbs and Amanda Paterson in November.
Earlier this year, Mr Sneesby commissioned external consulting firm Intersection to conduct an investigation into Nine’s workplace behaviours. The review uncovered a culture of entrenched bullying, harassment and an exploitation of power imbalances across the business.
In a statement on Wednesday, Mr Stanton said: “Since Michael joined as director of sales for ninemsn almost two decades ago, Nine has successfully responded to the changing industry dynamics and consistently performed strongly in the advertising market.
“During his tenure, Nine has developed the television trading platform 9Galaxy, launched self-serve advertising platform 9AdManager and rapidly grown our BVOD revenue share to 47 per cent in FY24.
“We are fortunate that high-calibre media executive Matt James is stepping in to lead the sales team to ensure continuity for Nine’s key partners and sales team. With experience on both the media and agency sides, a strong background in digital, and extensive knowledge of Nine, Matt is well-placed to ensure he hits the ground running with the Sales team during 2025.”
In an address to sales staff on Wednesday, Mr Stephenson said he would continue “to pursue my dream of leading an Australian media company”.
Mr Stephenson has not revealed if he is moving to another role at another company.
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