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AAP

Steven Deare

Nine dials down profit, wants social media to pay more

Nine Mike Sneesby

Nine Network has posted a 21 per cent fall in first-half profit to $149.5 million. (Luis Ascui/AAP PHOTOS)

Nine chief executive Mike Sneesby has renewed calls for social media giants to pay more for using news stories after the broadcaster posted a 21 per cent fall in first-half profit.

The newspaper, TV and radio company blamed weaker economic and advertising conditions for net profit after tax slumping to $149.5 million for the six months to December 31.

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