Nine Entertainment (ASX:NEC) revamped its operating model to cut costs and boost profitability, according to a Wednesday statement from the company.
The company said it will now focus on streaming and broadcast, publishing, and marketplaces in support of its so-called Integrated Audience Platform strategy aimed at promoting greater efficiency.
Amanda Laing will be the managing director of the streaming and broadcast division, while Tory Maguire will continue to lead publishing. Chief Digital Officer Alex Parsons will oversee marketplaces in addition to his role.
The restructuring is expected to drive the company's plans to reduce its cost base by AU$50 million in fiscal 2025, per the statement.
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