Nine appoints strategy boss

Nine Entertainment Co has appointed a head of strategy for the first time in two years, in a sign of its renewed ambition to explore growth opportunities.

Matt Stanton, a former Bauer Media chief executive who has been running Barambah Organics for the past two years, will join the $3.5 billion media company as chief strategy officer in the coming months. He is the first person to be appointed to a strategic position at Nine since the departure of Alexi Baker in 2020.

Nine has confirmed Stanton’s appointment.

Stanton has worked across a range of sectors in his career including food and beverage and retail, as head of transformation for Woolworths. He was the chief executive of Bauer Media – now Are Media – in the three years after it was bought by the Bauer family. His most recent media position was chief executive of the now defunct content marketing agency King Content, which was owned by Isentia but shut down less than two years after it was bought.

Nine’s decision to hire a head of strategy suggests it has a renewed focus on growth after navigating two years of volatile economic conditions caused by the COVID-19 pandemic. When a similar role was held by Baker, who now works at the NRL, it involved exploring merger and acquisition opportunities and securing broadcast rights deals for the television network.

There are multiple broadcast deals that are in market or coming up for negotiation in the next 12 months including the AFL, cricket and tennis. Nine hasn’t completed a major transaction since it bought-out the remaining shareholders of Macquarie Radio (the then owner of 2GB, 3AW and 4BC).

It bought the shares of John Singleton and Alan Jones one year after the merger Nine and Fairfax Media (this masthead’s former owner). The merger gave it ownership of a range of assets including a major stake in real-estate listings website Domain, youth publishing group Pedestrian and streaming service Stan. Nine is also the owner of The Sydney Morning Herald and The Age.

Stanton’s appointment comes ahead of Nine’s full-year results on August 25. The company has not provided any update on earnings for FY22 since March, when forecasted growth of more than 22 per cent on FY21’s $565 million. On June 30, the company announced plans to reward permanent employees who don’t already participate in incentive plans with a $1750 “recognition bonus” for the success of FY22.

Media analysts warned earlier this year the honeymoon period for media companies was almost over, due to rising interest rates and fears of a recession.