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The Guardian - AU
The Guardian - AU
Business
Amanda Meade and Jonathan Barrett

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

Signage for Nine Entertainment
Nine Entertainment chief executive, Mike Sneesby, says broadcaster and publisher is ‘not immune’ to global economic challenges as net profits slump. Photograph: James Ross/AAP

Nine Entertainment has recorded a steep 31% slide in annual net profit to $134.9m in a challenging year for Australia’s biggest media company, which saw significant cuts to its publishing division and the departure of chairman Peter Costello.

Nine is still ahead of rival media company Seven West Media, which had full-year profits falling 69% to $45m.

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