Nine net profits rise but dragged down by TV licence writedowns
Nine Entertainment Network’ s writedown of its TV licences, as flagged in its earlier half yearly financial results, has put the company into loss for 2017, despite an improved net profit.
The network reported total revenues of $1.238b for the year, a 3.5% year on decline on the previous year, and a $203.4m net loss after tax after the previously announced $260m write off. However digital services, including 9Now and Pedestrian.tv, saw good growth.
