Nine’s new chair faces a raft of operational and structural challenges beyond the findings of a looming review into the culture in its embattled television division.
Nine’s new chair, Catherine West, will not only have to take over from her larger-than-life predecessor, Peter Costello, in managing the review of the company’s culture but also steer it through a period of steady decline in the media sector.
Nine’s share price is down 29 per cent over the past year. But it’s not alone in feeling the pinch, as most media companies have been hurt by the prevailing advertiser downturn. Rival Seven West Media’s share price is down 55 per cent across the same period.Nine’s fortunes have been sustained in some part by the strength of its subscriber-led divisions in streaming service Stan, and its publishing division, which houses.
West was one of three Nine directors carried over during Nine’s merger with Fairfax in 2018. Rosen was one of the three Fairfax directors, alongside Nick Falloon and Patrick Allaway.
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