The withdrawl by advertisers from the Alan Jones’ program on 2GB has hurt earnings at NIne, the media group confirmed today.
In a trading update at the company's AGM, Nine says soft radio advertising conditions had been exacerbated for Macquarie by the advertiser boycott around Alan Jones.
Advertisers started cancelling campiagns after Jones said Prime Minister Scott Morrison should “shove a sock” down the throat of New Zealand Prime Minister Jacinda Ardern for her comments on climate change.
The comments, which were called misogynistic and violent, sparking online protests urging brands to stop advertising.
Nine chair Peter Costello told shareholders today: "Radio has experienced similarly (to television) soft market conditions in the current half exacerbated for Macquarie by the advertiser boycott around the Alan Jones’ program on 2GB."
The media group has taken full control of Macquarie Media, the owner of 2GB.
Costello is confident that full ownership by Nine from November will underpin improved performance, both in terms of reduced costs and the potential for incremental revenue.
"Integration work is well progressed and we are now operating under a new consolidated structure," he says.
Nine today reported a continuing softness in the overall advertising market will drag down full year results to "low single digit" growth.
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