Nine has today confirmed that it has signed an agreement for the sale of Stuff Limited, in a transaction which is expected to complete by May 31, 2020.
 

This week several radio industry leaders have given updates on how their companies are going during the COVID-19 pandemic. Steve Ahern examines the evolving business situation.

In a letter to shareholders, the Pacific Star Network has clarified some of the details of Nine’s new syndication deal with Crocmedia.
 

Nine Entertainment has withdrawn its FY20 Profit Guidance, telling shareholders that the forward ad market is becoming increasingly difficult to predict.
 
At the time of its half year report in February, Nine provided a guidance premised on a defined set of advertising market assumptions.
 
The rapid progression of COVID-19 is now beginning to impact Nines bottom line, and while the March quarter FTA and revenues track close to predictions, Q4 predictions are becoming increasingly difficult to predict.
 

Nine has appointed Penny Kaleta to the role of Director of Sales – Radio overseeing sales for its newly acquired radio division.

Airing 6.00-7.00pm Monday to Thursday and hosted by broadcaster Mark Levy, it will draw on the broad suite of talent from Nine’s Wide World of Sports to provide the latest news and commentary across the sports that Aussies love.

Greg Byrnes is joining Macquarie Media as Head of Content, effective tomorrow, and will be responsible for all on air content across Nine’s radio division.
 
Nine’s MD of Radio, Tom Malone, says, “Greg has a long and impressive career in media, and in particular radio, starting at 2XL Cooma in 1990.  He joined 2UE in 1993 and spent 17 years there most noticeably as News Director and Program Director.”
 

Nine has launched its vision for the NRL in 2020 promising an expanded and enhanced cross-platform presence for its radio, television, digital and publishing assets under the vision of “Your Footy, Your Way.”

Macquarie Media's National Executive Producer, Michael Thompson, will leave the company this Firday.

Michael started with 2GB on Ray Hadley's program before becoming his executive producer, and then 3 years ago moving into the national role overseeing the content across the news talk and sports talk formats.

Nine Entertainment has released its Annual Report to shareholders that has shown mixed results for the integrated media business.

In FY19, on a Pro Forma basis, the traditional Broadcasting business contributed just over half of Group revenue, down from 84% in FY18, marking a real change in the drivers of Nine for the future, and driven mainly from the merger with Fairfax Media.