Nine writes down value of TV network by $260 million
Nine Entertainment Company has reported a $237 million loss in the six months to December after reducing the Nine Network's goodwill from $422 million to $162 million.
Lucy Battersby has covered trends, technology and telecommunications since joining The Age in 2008.
Nine Entertainment Company has reported a $237 million loss in the six months to December after reducing the Nine Network's goodwill from $422 million to $162 million.
In a large room in Australia Post's newish headquarters in Melbourne, outgoing chief executive Ahmed Fahour held a bizarre press conference.
Australia Post chief executive Ahmed Fahour - who was criticised by Prime Minister Malcolm Turnbull for his $5.6 million salary - has resigned from the job after seven years.
The results come as Fairfax prepares to separate its real estate classified site Domain and list it separately on the stock exchange. Fairfax is expected to keep a controlling stake - up to 70 per cent - which would ensure it captures the profits if earnings continue to increase at the same pace.
The results come as Fairfax prepares to separate its real estate classified site Domain and list it separately on the stock exchange. Fairfax is expected to keep a controlling stake - up to 70 per cent - which would ensure it captures the profits if earnings continue to increase at the same pace.
When Seven West Media wrote down the value of Yahoo7 by $75.5 million, it gave a shift to "programmatic advertising" as the reason. What it failed to mention was the corporate regulator was also involved.
Fairfax Media shares have been placed in a trading halt until Thursday morning pending an announcement about its online real estate classifieds business Domain.
Fairfax Media is seeking advice from Macquarie Capital on how to sell its real estate classifieds business Domain, according to the Australian Financial Review.
oOh! Media has delivered shareholders a 17 per cent growth in profit and a jump in annual dividends as spending on out of home advertising increases.
Advertising revenue for television networks is down 2.7 per cent to $2.2 billion, according to figures for July to December from ThinkTV.
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