Nine Entertainment Moves Back Into Automotive With CarAdvice Acquisition

Nine Entertainment Moves Back Into Automotive With CarAdvice Acquisition
SHARE
THIS



Nine Entertainment has confirmed with shareholders that it has acquired a majority stake in automotive publisher CarAdvice for an undisclosed amount.

The terms of the deal include an equity injection of both cash and contra across Nine’s media assets, and also incorporate a path to 100 per cent ownership by Nine within three years.

CarAdvice will continue to produce content from its Sydney, Melbourne, Brisbane and Perth offices, and there will be no changes to its executive team, while four new seats will be added to the board for Nine’s nominated directors.

Alex Parsons, chief digital and marketing officer at Nine, said today that the deal sees the group’s digital business expand into one of Australia’s strongest advertising verticals, with substantial opportunities to grow the CarAdvice audience and develop multi-platform opportunities.

“We haven’t had a content presence in automotive for some time, and the category is a huge and fast-growing advertising category, and so we see it as very important for Nine’s growth, he told B&T.

“When we did our market research, we found CarAdvice came out on top – it’s a premium editorial-based new car content business.

“We now have access to a business that has achieved great growth over the past few years, so it puts us in a great position to enter the automotive content category and build on its success.”

CarAdvice managing director and CEO Andrew Beecher the acquisition is a launch pad for the automotive publisher’s next stage of growth.

“The lifeblood of any publisher is audience, and Nine’s extensive audiences and some of the aspects of the contra agreement really pump-primes our ability to continue to grow the brand,” he said.

“We’ve experienced explosive growth in video, and we haven’t even scratched the surface yet, so we think we can really leverage off Nine’s assets in the video and linear TV space, as well as the digital space, to offer our audience better opportunities to engage with that type of content.”

Nine previously held a 49 per cent stake in the leading auto classifieds website Carsales, but it was forced to sell it for $565 million to pay down debt in 2011, according to The Australian.

Nine also owned Wheels magazine before it was taken over by Bauer Media as part of the sale of ACP Magazines in 2012.

Latest News

Starts At 60 Makes Two Executive Appointments
  • Media

Starts At 60 Makes Two Executive Appointments

Mature-age media platform Starts at 60 has welcomed two new leaders to its executive team as it looks to scale up and broaden its commercialisation. Amena Reza (pictured above, right) moves into the role of chief operating officer. She was formerly the managing director of ML Design, and is a chartered accountant and a non-executive […]

HubSpot Creates ‘Marketing Hub Starter’ For Small Businesses
  • Marketing
  • Technology

HubSpot Creates ‘Marketing Hub Starter’ For Small Businesses

Marketing software player HubSpot has launched Marketing Hub Starter, a new software offering that aims to give growing teams the tools they need to start marketing right. This new tier of HubSpot’s platform is designed with small businesses in mind, consolidating the capabilities of existing disparate marketing tools into one platform and offering an affordable […]

Market Research Industry Cracks Down On Shonky Behaviour With New Digital Platform
  • Marketing

Market Research Industry Cracks Down On Shonky Behaviour With New Digital Platform

The Association of Market and Social Research Organisations (AMSRO) has launched a digital platform to highlight fake or illegitimate research activities to the public. ‘Phish of the Day’ enables AMSRO members, as well as the general public, to report any scams or non-genuine market and social research activities to the association. These might include telemarketing […]

Pooled Energy Appoints Magnum & Co And The Wired Agency
  • Advertising
  • Marketing

Pooled Energy Appoints Magnum & Co And The Wired Agency

Swimming pool electricity retailer Pooled Energy has appointed Magnum & Co and sister agency The Wired Agency to its roster, following a competitive pitch. Magnum & Co will handle Pooled Energy’s social media and PR, while The Wired Agency has been appointed to manage the company’s search and display advertising. Both agencies will collaborate with […]

Masculinity Roasted In Clever New Ad
  • Advertising
  • Campaigns

Masculinity Roasted In Clever New Ad

Think masculinity means drinking a case without chundering? Well, rediscover it (& possibly yourself) with this top ad.

by B&T Magazine

B&T Magazine
WPP AUNZ Partners With Career Trackers Indigenous Internship Program
  • Advertising

WPP AUNZ Partners With Career Trackers Indigenous Internship Program

Advertising and marketing network WPP AUNZ has joined the Career Trackers Indigenous Internship Program as part of its commitment to a diverse workforce, and the creation of opportunities that inspire excellence. As part of the program, WPP AUNZ has welcomed its first three interns: Abi-Leigh Dillon (WPP AUNZ), Amy Mccutcheon (MediaCom) and Jacinta Evans (Ogilvy), […]

Taboo Goes On A Hiring Spree
  • Advertising

Taboo Goes On A Hiring Spree

Taboo has gone a hiring spree. And when it comes to sprees, that's far better than a shooting one or a farting one.

M&C Saatchi Group’s 1440 Shuts Up Shop
  • Marketing

M&C Saatchi Group’s 1440 Shuts Up Shop

Sadly, M&C Saatchi's 1440 is no more. And chances of it being reborn as 1550 not looking much chop either.

by B&T Magazine

B&T Magazine
Luke Kelly Becomes A Partner At HBT
  • Advertising
  • Marketing
  • Technology

Luke Kelly Becomes A Partner At HBT

B&T's not sure what's with that twirly thing in the press photo, suffice to say a vortex to an alternate dimension?

Women In Media Profile: Alison Michalk
  • Media

Women In Media Profile: Alison Michalk

If B&T's Women in Media profiles were an animal they would be a gazelle or lioness, or even a lioness eating a gazelle.

by B&T Magazine

B&T Magazine
Grant Broadcasters Makes Several Changes To Senior Executive Team
  • Media

Grant Broadcasters Makes Several Changes To Senior Executive Team

Independent media company Grant Broadcasters has announced a number of changes to its executive ranks. Grant Cameron will move up to become non-executive chairman for the company, and Alison Cameron (pictured above) – currently the chief operating officer – will assume the CEO role. Dugald Cameron remains responsible for the family’s investment portfolio and is […]