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Mike Sneesby Resigns as CEO of Australia’s Nine Entertainment
Mike Sneesby announces that he will step down as CEO of Australia’s Nine Entertainment after challenging year.
He will be replaced on an acting basis by CFO and chief strategy officer Matt Stanton while a recruitment process is under way.In a statement made to the Australin Stock Exchange, Sneesby said, “I consider now is the right time for a transition of leadership to take Nine into the next phase of its strategic transformation” following the completion of the Olympics and the Paralympics.” It blamed a weak advertising market and the non-renewal of a news content deal with Meta, the U.S. social media giant. Staff at Nine went on strike in response, a move that threatened to disrupt coverage of the summer Olympic Games, rights to which Nine had obtained from rival media group Seven.
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