Nine CEO Mike Sneesby insists Olympics will make money after claims of $60m in losses
The suggestion that Nine’s expensive Olympic gamble may result in a potential $60 million loss has prompted CEO Mike Sneesby to give his first media interview since sexual harassment scandals, Peter Costello’s controversial exit, and 200 job losses rocked the media company.
In an interview with AFR, Sneesby refused to be drawn on any topic other than his declaration that “Nine will be profitable on the Paris Olympic and Paralympic Games”.
According to Sam Buckingham-Jones, who conducted the interview for the Australian Financial Review, Sneesby “declined to comment on a decision to cut some 200 jobs, or on an ongoing review of sexual harassment and inappropriate behaviours at Nine”.
Nine paid $305 million for an Olympic broadcast package which includes Paris 2024, Los Angeles 2028, and the Brisbane 2032 Olympic and Paralympic Games – plus two Winter Games that fall in the timeframe.
