Nine boss Hugh Marks has offloaded 700,000 shares in the media company for “personal tax” reasons, earning himself a tidy $1.38m in the process.
According to Nine, the sale of the shares was to “satisfy personal tax obligations arising from previous share issues”.
Following the sale, Marks now owns 2.2 million shares in Nine directly, and 282,280 indirectly. In a statement to the ASX, Nine said the CEO also has 1.5 million performances rights available, subject to meeting specific vesting conditions.
Marks recently came under fire for hosting a $10,000-a-head Liberal fundraiser at Nine’s Willoughby headquarters, which drew the ire from the journalists of its newspaper mastheads. He since admitted his “mistake”.
Nine also recently released its end of financials for the 12 months to June, unveiling a $234 million profit for the year. That was up 12 per cent year on year.
To celebrate brands going “above and beyond to act with purpose”, Mumpower has announced its first-ever consumer choice awards. The ‘Vote on Purpose’ Australian Business Award 2021 aims to crown Australia’s favourite purpose-driven company, with Mumpower now calling on both corporations and Mum shoppers to nominate a value-led company or a specific brand campaign that […]
Sports fans will have to pay $10 a month to sign up for Stan Sport when it launches later this year, according to reports. The Nine-owned Sydney Morning Herald, is today reporting that Stan (also owned by Nine) will offer Stan Sport as a supplementary service, meaning fans must also have a subscription to Stan’s […]