Nine Entertainment Co Holdings Ltd (ASX:NEC) has reported a 15% drop in earnings before interest, taxes, depreciation and amortization in its interim financial report for 2025, with the final number coming in at $268 million.

The beleaguered Australian media titan said this reflected both pressures on economic and advertising markets more generally – but also the loss of a commercial deal with Meta and its associated revenues.

Profit after taxes and minorities also registered a fall, set at $95M for the six months to December 2024; down from $134M in the prior corresponding period.

In its report, Nine spruiked the cultural transformation which had been rolled out since a third-party review published in October showed concerning levels of inappropriate behaviours, and made 22 recommendations for change.

This was followed less than two months later by an Action Plan that was endorsed by the company board to change its culture.

“We have worked together over the past six months to build a roadmap for strategic and cultural transformation,” Acting CEO Matt Stanton said, declaring the issue has been an important focal point for Nine.

“I am proud of the way our people have responded, with strong engagement and an overwhelming spirit of constructive optimism.

“I am confident that the changes we have made and continue to implement will ensureNine remains an integral player at the forefront of media in Australia.”

Nine shares were higher on Tuesday, and at 1:28pm they were trading at $1.69 – a rise of 3.53% since the market opened.

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