Nine Entertainment: On the Block?
Conditions are ripe for Nine to attract takeover interest. Its shares have been languishing since mid-2022, as the hangover from the covid-19 bump in advertising is exacerbated by the impact of rising rates and skittish marketer sentiment. This is compounded by recent internal upheavals, culminating in the resignation of chairman Peter Costello on June 9. The current flux makes Nine vulnerable to opportunistic buyers willing to look beyond the near-term headwinds and focus on Nine's underlying assets.