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Nine parts company with Daily Mail

Nine is no longer a joint-venture partner in boisterous news and entertainment site.

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2016-01-15_2027

Nine is no longer a joint venture partner in Daily Mail Australia, after selling its stake to Brit-based General Trust (DMGT).

The online publication went live on January 1 2014 and has attracted big traffic for its distinct style of boisterous news and entertainment.

Hugh Marks, CEO, Nine Entertainment Company CEO said: “As our consumer and commercial interests evolve we have agreed with DMGT that our individual interests are best served by unwinding the JV – the NEC team wish them well as they continue to build their business in the Australian market.”

Martin Clarke, Global MailOnline Publisher and CEO, said: “I’d like to thank Nine for its sterling support since we launched two years ago to make Daily Mail Australia one of Australia’s leading news sites but both companies felt that in a changing media landscape the needs of the website were best served by sole-ownership going forward.

“We are now planning for even more investment in our editorial and commercial offerings.”

4 Responses

  1. DMG was the English newspaper mob who authorised Paul Thompson (the former head honcho of Austereo) to spend millions and millions and millions and millions and milions and millions buying up FM radio licenses around Australia and creating two new FMers in most capital cities.
    DMG eventually sold most of the regional stations to those radio rogues at Macquarie Bank (Southern Cross Media), who shortly afterwards purchased the Austero Network.
    Enter l’il ol’ Lockie Murdoch who – over a three year period – bought the entire Nova Radio Network for a song. Millions and millions (etc) less than it cost DMG to build.
    Mr Thompson’s dream didn’t really eventuate how he thought it would…

  2. Great. Now I’m forced to choose between watching Ch 9 & reading the Daily Mail for my daily dose of everyday happenings & trivial irrelevances beaten up into ‘exclusive “news”‘.

    (“Oh, I see! That explains everything.” – obligatory Monkey Dust quote…)

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