Chief executive of the Australian entertainment company, Matt Stanton, refuses to comment on potential acquisitions of podcast or radio assets or outdoor advertising
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Nine Entertainment will spend $50m digitising 200 years of newspaper archives and 60 years of TV and invest in new AI tools but has stopped short of revealing what media assets it may acquire with a cash windfall from the sale of Domain.
Speaking at Nine’s full-year results, the chief executive, Matt Stanton, said the sale of Nine’s 61% stake in the real estate portal went through on Wednesday and provided a significant capital return to shareholders as well as a stronger balance sheet for Australia’s biggest media company.
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