Hugh Marks reflects on his final results as Nine CEO: ‘It’s time for a new energy’
After delivering his final results as Nine CEO yesterday, Hugh Marks tells Mumbrella’s Brittney Rigby what he’s proudest of, why Nine Radio made a mistake in not chasing down more direct bookings – “radio audiences are great, they’ve just got to sell it” – and how “everything I set out to do is done”.
The last time Hugh Marks spoke to investors was at an investor strategy event on 19 November, five days after his shock resignation was prompted by a relationship with a former executive.
Yesterday, he presented to them for the final time in his capacity as Nine’s CEO when he delivered the media business’ half year results for the six months ending in December: net profit surged by 79% to $182 million, revenue was down 2% to $1.2 billion, and earnings before interest, tax, depreciation and amortisation (EBITDA) were $355 million.
The share price is currently at a record high of $2.93 – the first time Nine has ever gone over a $5 billion market capitalisation.
