Nine Entertainment Co

Not seen that Dotty Powered logo before.

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Departure of Chief Financial Officer

10 July 2020: Nine Entertainment (ASX:NEC) advises that Paul Koppelman has resigned for personal reasons including the recent death of a family member. The resignation is effective immediately. Graeme Cassells, currently Group Financial Controller, will take on the role of acting CFO.

Nine will be releasing its FY20 result on 27 August. Preparation of the final year accounts is well progressed. Subject to completion and auditing, at this stage, Nine is expecting to report Group EBITDA (pre Specific Items and post AASB16) in the range of $390m-$410m for its continuing businesses. Wholly owned net debt at 30 June, 2020 is expected to be c$300m.

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It happened last week on the beach at Byron Bay, and he is now recovering.

There had been suggestions that Gyngell might be tempted to take over as Nine boss for a third time given recent rumours of board unhappiness over the performance of Hugh Marks, but The Australian points out that that is looking more and more unlikely now. Gyngell seems ensconced living at Byron Bay where he also has some property investments.

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Hasn’t Marks done a great job in the past few years? Seems the company is going from strength to strength IMO.

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Was that due to the work and streamlining that Gyngell did before he left?

He left a platform to build on.

For the record; it’s an assumption.

He also made some coin out of CUB’s purchase of Balter Brewing (yet another craft beer brand lost to Big Beer :frowning: )

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Whenever someone says Big Beer, I think of this…

giantbeer

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A photo taken on 13 July. Source: Skyscraper City.

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I really like the entrance.

When are we expecting TCN9 to move in?

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As per a recent article from The Australian/post from @littlegezzybear, the executive, programming, marketing, legal and production areas have already moved there.

The newspapers will move next month, TV in October. It’s to my understanding that radio news will also move to North Sydney while the rest of 2GB/2UE may stay at Pyrmont.

Why aren’t the rest of 2GB/2UE moving to North Sydney? You’d think it’d make sense for everything to be grouped in together.

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Maybe Pyrmont can transmit a better radio signal than North Sydney?

My thought is that maybe Nine would have to lease more space to fit in 2GB and 2UE? And maybe they can’t break the existing lease at Pyrmont?

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Though the transmitters are both at Sydney Olympic Park.

Wouldn’t the content to be transmitted come via IP-based delivery? Or are they still using microwaves?

It will be interesting to see if NBN News production is moved there soon too, given the dilapidated state of their Newcastle studios which will be demolished to make way for apartments.

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Source?

thanks and thats also really sad to see Nine do this.

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