Nine's chief executive Mike Sneesby said the television, publishing and digital media company was positioned to weather uncertain economic conditions as he announced plans to buy back up to 10 per cent of shares on issue. | zoesam93
Nine Entertainment Co will pay shareholders a record full-year dividend as growth in subscriptions and a buoyant advertising market helped lift profits by 35 per cent to $315 million.
“Whilst broader economic factors are beginning to impact some areas of the market, Nine’s strong competitive position and balance sheet stands us in good stead,” Sneesby said. “We have successfully diversified our earnings base with more than 30 per cent of our revenue now from subscription and licensing.”
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