Nine has unveiled a new operating model and executive team following the departure of long time sales chief Michael Stephenson.
The business will be streamlined into three consumer-focused divisions: Streaming & Broadcast; Publishing; and Marketplaces
The updated operating model will underpin Nine’s plan to reduce its cost base by a further $50 million in the current financial year and enhance profitability through greater utilisation of the business’ premium assets.
The shake-up of the company structure comes after Stephenson, the company's former chief sales officer, jumped to ARN Media to take on the chief operating officer role.
Former Foxtel executive Amanda Laing has been named managing director of the Streaming & Broadcast division, which brings together Stan, 9Now, Broadcast Television and Radio.
Most recently, she was chief commercial and content officer at Foxtel Group and MD at Binge before leaving the organisation back in September.
The current Publishing division, led by MD Tory Maguire, will be expanded to include nine.com.au alongside Nine’s publishing assets, including The Sydney Morning Herald, The Age, and The Australian Financial Review.
The creation of a Marketplaces division provides more targeted oversight of Domain and Drive. Alex Parsons will oversee Marketplaces in addition to his chief digital officer role.
There is no change to the current business structure or governance of Domain, an ASX-listed business.
Nine has also appointed James Boyce as director of regulatory, public affairs and communications to enhance the focus on the regulatory environment. Boyce joins Nine from Paramount (Australia and New Zealand), where he was head of government and regulatory affairs.
In line with the new operating model, Nine will transition to a more streamlined eight-member executive team reporting to acting CEO Matt Stanton.
Stanton said the operating model reset will help accelerate the strategic transformation underway at Nine by improving how the different parts of the business work together.
"Our new approach will better position the business to manage the challenging external environment and ensure the company is future-fit to sustainably deliver for our consumers, partners, shareholders and people," he said.
“Aligned with the greater accountability that flows from resetting the operating model, I’m pleased to unveil a new and focused Executive Team to lead Nine through its next phase of growth.
"The appointment of Amanda, one of the top media executives in the country, will add extraordinary industry expertise and energy to Nine’s experienced Executive Team in 2025 while James will sharpen the Group’s focus on the evolving regulatory landscape.”
Nine, like other Australian media companies, has been keeping a tight grip on costs as it battles a subdued advertising market.
The company reported a 31% fall to $134.9 million in net profit after tax for the year to June in a challenging market. Revenue was down 3% to $2.6 billion.
Total TV revenue fell 10% to $1.13 billion over the full year, impacted by a "weak" advertising market.
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