Legal expenses related to Nine’s 60 Minutes debacle in Lebanon have contributed to its declining profit this year.
Last month, it was revealed Nine had forked out more than $2 million in legal fees and compensation payments through a Lebanese law firm over the saga.
Today, Nine said its legal bill for the year to June was $7 million higher than a year earlier, due in part to the stoush with regional broadcaster WIN over live-streaming services and with Seven over its Hotplate case, accused of ripping-off My Kitchen Rules.
“Included in costs were … a $7 million incremental legal cost associated with various legal matters with WIN, Seven as well as the 60 Minutes Beirut story,” chief financial officer Greg Barnes told analysts.
Nine CEO Hugh Marks attributed much of the drop in revenue to “a challenging ad market and poor programming outcomes.”
Source: Herald Sun