Media company says it will concentrate on more profitable content after a reported 9% drop in profits
Nine has identified the Ashes, 2020 men and women’s cricket T20 World Cups and international TV programs as possible targets in a drive to cut $100m out of its struggling free-to-air television business, as the media company reports a 9% drop in profits.
In its first full-year results since the $4bn merger with Fairfax, Nine reported revenue of just under $1.2bn, group Ebitda (pre-tax earnings) of $251m and a net profit after tax of $114m.