Opinion

The honeymoon ends for Nine’s Mike Sneesby

Nine Entertainment Co’s share price fell by half a billion dollars yesterday when new CEO Mike Sneesby unveiled his investment plans for Stan to the market. Unmade proprietor and Mumbrella’s editor-at-large Tim Burrowes argues that the issue may not be about the strategy itself, but rather how effectively Sneesby made the case. This article is based on analysis that first appeared in the Unmade newsletter.

Tim Burrowes

August 26, 2021 10:11

Nine’s new boss Mike Sneesby learned yesterday how fickle the share market can be. Despite presenting a decent set of numbers, investors turned against him.

The market did not seem to approve of Sneesby’s first end of financial year appearance. The share price fell by 9.73%, taking the company back below the $5 billion market capitalisation he inherited from predecessor Hugh Marks.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.