Nine boss Hugh Marks flags $65m in cost cuts”


“In the media landscape, we become Australia’s largest locally owned media company, evolved from two of the great heritage brands, Fairfax and Nine, who have served our community with the best entertainment, content, sport and news journalism for decades,” Mr Marks stated.

“I’m pleased to say we are days away from having completed the key parts of the synergy process and, from Monday, we move forward with the confidence that Nine is a stronger and more sustainable business, with a dramatically improved scale and business model.”

He stated the corporate would proceed to take a look at broad distribution of content material and engagement with viewers and advertisers, with an elevated alternative after including mastheads (together with The Sydney Morning Herald and The Age), a 59 per cent stake in Domain and a majority holding in Macquarie Media.

Mr Marks has quickly reduce prices in the previous few weeks, saying originally of the week that 92 employees can be made redundant (equal to 144 roles) together with some in gross sales and again workplace operations. The new business may have about 6000 staff, with selections but to be made round duplicate techniques in human assets, payroll and content material administration.

Fairfax’s chief government Greg Hywood, chief monetary officer David Housego, group common counsel Gail Hambly, group director of human assets Michelle Williams, group director of technique Dhruv Gupta and director of communications Brad Hatch had their last day on Friday.

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