Daily Mail And Nine’s JV Split: “It’s Been Very Amicable”
The severing of ties for the Daily Mail and Nine Entertainment Co. (NEC) have so far been “very amicable”, according to Peter Holder, managing director for the Daily Mail Australia.
“We have nothing but great things to say about NEC,” he told B&T. “We couldn’t have launched in this market without the help of a really strong media partner who understood the nuances of this very complex market that is the Australian media.
“It’s just time for both parties to seek their own opportunities.”
The news was announced early this morning, meaning the Daily Mail will now become a wholly owned publication under the Daily Mail General Trust (DMGT) – as it is in both the UK and America.
And while some reports suggest it was due to frustration in the sales department, Holder said he had nothing but “great things to say” about its soon to be ex-joint venture partner.
There are understandably many areas of the businesses that will need to cut ties. It’s not going to be an overnight job, but Holder declined to say when the complete split of the joint venture would occur.
“The termination day isn’t in place yet,” he said. “In some cases there are some things we can move really quickly and on others they’re going to be a little bit more complicated.”
And there won’t be much movement of offices, said Holder. The Daily Mail Australia head office is currently in the Australia Square building in Sydney, where ninemsn also resides.
Holder said there may be some shuffling around, but they were going to keep all parties – such as editorial and sales – in the same building.
“We’re also working with Nine about office space in Melbourne and certainly we are in the process of looking for office space in Brisbane,” he added.
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