Daily Mail Australia profitable by September, claims Nine CEO

Daily Mail AustraliaNine Entertainment CEO David Gyngell has said this morning that he expects the company’s digital joint venture with Daily Mail Australia to be profitable by September.

Today during a media call on the company’s half year results Gyngell said in a response to a analyst question about the venture that he anticipated the venture which Nine owns 50 per cent of, to be profitable by the first quarter of next financial year.   

The statement comes after earlier this year it was reported in The Australian that the agreement between Nine’s digital arm Mi9 and The Daily Mail was renegotiated with the commission fee of on sales in the existing contract was revised down.

It was also reported that Nine had agreed to invest more money in the digital operation.

A statement provided to the paper by the Daily Mail at the time insisted the partnership was stronger than ever: “Contrary to recent misplaced speculation the partnership between Mail Online and NEC continues strongly and successfully,” the company stated.

“Happily for us but perhaps ­disappointingly for our competition, it’s very much business as usual. The record shows Daily Mail Australia has already made massive inroads in the online space, and we’ll all be working hard to accelerate that achievement in the future.”

Robert Burton-Bradley

Nine’s digital division Mi9 is currently advertising on this site. 


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