Jeffrey Browne.s departure as the Nine Network.s managing director on August 1 marks the end of a hectic deal-making phase at the company in which he played a key role.
It was Browne.s decision to step down but his role won.t be filled as Nine Entertainment Co. CEO David Gyngell will take direct oversight of the network.
The executive, who had run the network for seven years, will retain his ties in a new part-time role as Executive Director . Commercial, of Nine Entertainment.
Browne closed the deals to purchase the Adelaide and Perth stations from Bruce Gordon.s Win Corp. and the rights to telecast the National Rugby League and Australian Test cricket and one-day internationals.
.He.s happy. He has.been contemplating (stepping down) for some months and it was his call,. a network insider told If.
Gyngell.s workload has lightened since Nine Entertainment sold...
It was Browne.s decision to step down but his role won.t be filled as Nine Entertainment Co. CEO David Gyngell will take direct oversight of the network.
The executive, who had run the network for seven years, will retain his ties in a new part-time role as Executive Director . Commercial, of Nine Entertainment.
Browne closed the deals to purchase the Adelaide and Perth stations from Bruce Gordon.s Win Corp. and the rights to telecast the National Rugby League and Australian Test cricket and one-day internationals.
.He.s happy. He has.been contemplating (stepping down) for some months and it was his call,. a network insider told If.
Gyngell.s workload has lightened since Nine Entertainment sold...
- 7/10/2013
- by Don Groves
- IF.com.au
Rupert Murdoch Ally At Odds With Forbes’ Billionaires List Prince Alwaleed Bin Talal, an ally of Rupert Murdoch whose Kingdom Holding Company shares business interests with News Corp., is in dispute with Forbes over his placement on its annual billionaires list. The magazine placed him at number 26 on its list with an estimated worth of $20B. But the prince’s office thinks that’s several billion too low. According to The Financial Times, the prince severed ties on Monday with the list, citing a “flawed” valuation method. Forbes responded that it “has been investigating the prince’s finances for several years, and will detail its findings in a feature story in the magazine” that will appear online. Kingdom Holding will continue to collaborate with the Bloomberg Billionaires index, however, which measures the prince’s wealth at $28B, which he considers more accurate. Among his holdings, the Saudi investor owns about 7% of News Corp.
- 3/6/2013
- by NANCY TARTAGLIONE, International Editor
- Deadline TV
Australia’s Ten Network Sinks to Loss, Flags Further Cuts After recording a net loss of $A12.9 million ($13.3 million) in the year to August 31, Australia’s Network Ten has flagged another round of cost-cutting, including voluntary buyouts. The broadcaster reduced TV costs by 6.6% or $42 million in fiscal 2012 but chief executive James Warburton insisted “that has not come at the expense of content.” Warburton said a strategic review launched earlier this year is ongoing and covers all departments. Revenue from continuing businesses fell by 15% to $729 million. In the first half of this year Ten captured 25.5% of the capital city television advertising market, trailing Seven’s 40% and Nine’s 34.5%, as the overall market shrunk by 3.6%. Ten’s shares edged up to 32.2 cents after hitting a record low of 30 cents yesterday after the company revealed a deal to sell its outdoor advertising business Eye Corp. to private equity firm Champ for $145 million had fallen over.
- 10/18/2012
- by THE DEADLINE TEAM
- Deadline TV
Freelance journalist Don Groves is a Deadline contributor based in Sydney In a sign of the malaise affecting the Australian free-to-air TV broadcasters, Network Ten is raising $A200 million in a share offer to invest in new Australian programming and strengthen its balance sheet. The company headed by executive chairman Lachlan Murdoch has been hit by a sharp downturn in ratings and advertising revenue. That’s due in part to the soaring popularity of rival Nine Network’s local version of The Voice, and amid a sluggish economy and consumers’ fears about the impact of the European financial crisis. Ten said TV revenue for the nine months ending in May was down 12% year-over-year and advertising markets “continue to be soft with very little near-term visibility on revenue for July and August.” Murdoch, who with James Packer, former Paramount International TV president Bruce Gordon and mining tycoon Gina Rinehart own 43% of Ten’s shares,...
- 6/6/2012
- by THE DEADLINE TEAM
- Deadline TV
Ten Network has warned that its share of the television advertising market will not improve in the near term as it raises $200 million from shareholders to bolster its balance sheet and invest in programming.
Television revenue for the third quarter was down by 12 per cent compared to the prior corresponding period and television revenue for the nine months to May was down 12 per cent, the company said. Meanwhile, advertising markets continue to be soft with very little near term visibility on revenue for July and August.
Nonetheless, Ten managing director and chief executive officer James Warburton, said the company.s turnaround strategy was well under way.
.We have reset our cost base, refocused our News strategy, relaunched One and rebuilt the executive team,. he said in a statement. .Our focus is now on renewing our content offering to build audience share and revenue. In a strong endorsement of our turnaround strategy,...
Television revenue for the third quarter was down by 12 per cent compared to the prior corresponding period and television revenue for the nine months to May was down 12 per cent, the company said. Meanwhile, advertising markets continue to be soft with very little near term visibility on revenue for July and August.
Nonetheless, Ten managing director and chief executive officer James Warburton, said the company.s turnaround strategy was well under way.
.We have reset our cost base, refocused our News strategy, relaunched One and rebuilt the executive team,. he said in a statement. .Our focus is now on renewing our content offering to build audience share and revenue. In a strong endorsement of our turnaround strategy,...
- 6/6/2012
- by Brendan Swift
- IF.com.au
Sydney -- The board of Australia's Ten Network Holdings has sacked CEO Grant Blackley and installed Lachlan Murdoch as interim CEO, after preliminary financial results for the first half of the broadcasters fiscal year Wednesday showed a fall in earnings, despite a recovery in the wider ad market.
Part of Murdoch's remit as interim CEO will be to undertake a strategic review of all of Ten's businesses.
In a statement, Ten said that Blackley, the long-term chief executive of the company's television division, had been given notice that his contract would be terminated immediately.
"At the unanimous request of the board, Lachlan Murdoch has agreed to accept the role of acting chief executive officer during the period that an executive search is undertaken for a new chief executive officer," the company said.
Sources close to the company said Murdoch would not take on the job permanently.
"The Board continues to...
Part of Murdoch's remit as interim CEO will be to undertake a strategic review of all of Ten's businesses.
In a statement, Ten said that Blackley, the long-term chief executive of the company's television division, had been given notice that his contract would be terminated immediately.
"At the unanimous request of the board, Lachlan Murdoch has agreed to accept the role of acting chief executive officer during the period that an executive search is undertaken for a new chief executive officer," the company said.
Sources close to the company said Murdoch would not take on the job permanently.
"The Board continues to...
- 2/23/2011
- The Hollywood Reporter - Movie News
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