Outgoing Nine Entertainment CEO Hugh Marks is in hospital.
He was absent from today's announcement of Mike Sneesby, the CEO of streaming platform Stan, as his replacement at Nine.
Peter Costello, the chair of the media group, says Marks is undergoing tests and his condition is not life threatening.
"I spoke to Mr Marks this morning. He's in hospital and he said he's quite happy for me to mention that he has an infection," says Costello.
"He's being tested for that infection and he's been in hospital for several days already."
Costello today paid tribute to the "remarkable" tenure of Marks who in 2015 inherited a legacy television business with a market capitalisation of about $1.3 billion
The market capitalisation of Nine this morning was nearly $5 billion with its shares trading above a multi year high of $3 each.
"This is a remarkable turnaround and Hugh has my sincere thanks and gratitude for his work," says Costello.
Marks, who describes himself as a private person, told AdNews he is looking forward to time out of the limelight.
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