Nine’s profits to increase by $123.6 million

23 August 2018

Written by: Becky Steepe

Nine Entertainment expect a 27 percent increase in profits from merging with Fairfax.

The co-chief executive of Nine Entertainment Hugh Marks has posted an expected increase in income of 27 percent for the 2019 financial year if the Fairfax merger is approved.

The media company’s income is predicted to increase to $280-300 million up from $123.6 million for the 2018 financial year.

Changes to the cross-media laws last year have made the merger between the two media companies possible.

The merger is yet to be approved by the Australian Competition and Consumer Commission.

They are expected to make a decision in November. If approved, a shareholder vote will be held.