Nine executives’ bonuses take a hit as profits plummet 31% in soft ad market

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Drop in revenue in broadcasting and publishing partly offset by increase in income from Stan and Domain

Nine Entertainment chief executive, Mike Sneesby, says broadcaster and publisher is ‘not immune’ to global economic challenges as net profits slump.Nine Entertainment chief executive, Mike Sneesby, says broadcaster and publisher is ‘not immune’ to global economic challenges as net profits slump.Nine Entertainment has recorded a steep 31% slide in annual net profit to $134.

The chief sales officer, Michael Stephenson, also forfeited some of his bonus, with his total remuneration down from $2.2m to $1.8m.The owner of the Nine TV network was dragged lower by falling revenues in its broadcast and publishing arms, down 9% and 3% respectively., where revenue was up 5% to $447.7m, as well as revenue up 12% from its controlling stake in real estate listings portal Domain, to $395.7m.at Canberra airport, said the new financial year had started on a positive note.

Total subscribers to the paywalled newspaper sites grew to more than 500,000 while registered users increased to 1.7m.

 

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