9GemHD confirmed in Newcastle
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Nine has increased its lease of the new North Sydney office from 18,500 sq m to 25,000 sq m, to bring together all of its key Sydney divisions into one office.
https://www.bandt.com.au/media/nine-reveals-plans-designs-new-north-sydney-hq
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The revised plans by Nine for the studio fitout at 1 Denison St were approved by the North Sydney Council last week. The studios are approved for 24 hour use, and it seems that Nine can’t rent them out to anyone else. From the approval documents:
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Presumably there will eventually be change at management level within the radio business once Nine has full ownership.
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The Australian reported earlier today that Nine has hired recruitment firm Spencer Stuart to find a replacement. Two short-listed candidates are now said to be in the final running and an announcement on the successful candidate could be imminent.
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Appointment Of Chief Financial Officer
Nine has today announced the appointment of Mr Paul Koppelman, who will join Nine as Chief Financial Officer, effective 3 September 2019. Mr Koppelman will report to Nine’s Chief Executive Officer, Hugh Marks.
Announcing the appointment of Mr Koppelman, Mr Marks said “I am delighted to appoint Paul to the role of CFO. Nine has undergone an enormous transformation over the past 12 months and the focus now will be on further strengthening our relative position within the media sector, and continuing to grow the operating performance of our business. Paul’s diverse experience across different industries and operating environments will prove a valuable addition to the senior leadership team.”
Mr Koppelman said, “I am looking forward to joining Nine at this exciting time for both the Company and media industry as a whole. Nine has really reinvented itself over the past few years, and is now clearly Australia’s leading integrated media company. It is well positioned to continue to grow and evolve its business and I am excited to be part of that.”
Paul Koppelman is a qualified chartered accountant, and experienced CFO, with a broad sectoral background across a range of blue-chip listed organisations, both in Australia and overseas. Until recently, Mr Koppelman was Chief Financial Officer of ASX-listed Aconex, through to its acquisition by Oracle. Prior to this, he was the Chief Financial Officer through the IPO process at Medibank Private Limited, and prior again, CFO of the Global Aluminium (UK) and Commercial (Netherlands) Groups at BHP.
Nine FY19 Results
Nine has released its FY19 results for the 12 months to June 2019.
On a Statutory basis, Nine reported a Net Profit After Tax of $234m, up 12% on the previous corresponding period.
On a Pro Forma, Continuing Business and pre Specific Item basis, Nine reported Group EBITDA growth of 10% to $424m, on Revenue of $2.3b (-1%) and Net Profit After Tax and Minority Interests of $198m (+16%).
Highlights include:
• Strong FTA revenue share (+1.0pts) coupled with lower costs (-4%), partially offsetting weakness in the FTA market
• 56% growth in Digital & Publishing EBITDA underpinned by >60% growth in both Metro Media and 9Now
• More than 1.7m active subscribers at Stan, and cash flow and EBITDA positive in H2
• Solid contribution from Domain in a cyclically challenging housing market
• Completion of the merger with Fairfax, and subsequent sale of ACM and Events
• $50m synergy exit run-rate, with $22m reflected in FY19 resultsHugh Marks, Chief Executive Officer of Nine said: “To achieve 10% EBITDA growth in this cyclically challenging FTA and housing market was a very strong result. It’s a validation of our strategy, the success of the investments we have made, and the efforts of our people.
“Nine has real operating momentum in each of our divisions, with an earnings composition increasingly weighted to high growth businesses. In particular, we are well placed to further expand our share of the rapidly growing digital video market. Not only through 9Now and Stan but also more broadly across our digital assets. We will continue to draw on the strength of our traditional media assets to help us successfully build complementary, high growth, digital media businesses of the future. A strategy that has, of course, been greatly enhanced by the merger with Fairfax.
“Growth in Digital & Publishing and the move to profitability through the second half at Stan enabled us to grow Nine’s EBITDA year on year, giving us further confidence that we are investing in the right content and technology for the future of our business.
“We are excited about the future, and the potential we see in the further execution of our strategy. Having all of our businesses working together will maximise the benefits for each of them as well as the collective benefit for Nine as a Group.”
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Interesting although I’m not surprised that Nine got another non-media executive to be its CFO, just like Greg Barnes who was with CSR prior to Nine; I know because he was my boss’ boss.
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MS insider, love it!
Nine Entertainment chief executive Hugh Marks will be hosting a $10,000 per head fundraising dinner for the Liberal Party tonight at Nine’s Willoughby studios in Sydney. In attendance will be prime minister Scott Morrison, and ministers Simon Birmingham, Paul Fletcher, Dan Tehan, Stuart Robert and Jane Hume.
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That’s gross
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Totally expected being Peter Costello as chairman of the board.
At least the Liberals can count on Nine because they know that they won’t be able to get it from the ABC.
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was the Sky News studios unavailable
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What do you mean by “get it”?