Original article by Lilly Vitorovich
The Australian – Page: 17 & 20 : 4-Dec-18
Nine Entertainment Company will comprise four divisions following its merger with Fairfax Media. Nine CEO Hugh Marks has advised staff that about 92 jobs will be lost as a result of the merger, although newsroom jobs will not be affected. Nine’s existing management team will largely helm the new divisions, while key Fairfax executives will exit following the merger. They include CEO Greg Hywood and CFO David Housego. The merger is expected to generate annual cost savings of around $50m.
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, STUFF LIMITED, STAN ENTERTAINMENT PTY LTD, 9NOW, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, MACQUARIE MEDIA LIMITED – ASX MRN, FEDERAL COURT OF AUSTRALIA, DELOITTE TOUCHE TOHMATSU LIMITED