AAP Finance

Nine CFO to step down after FY results

By AAP Newswire

Nine Entertainment's chief financial officer, Greg Barnes, will leave the company after it reports it fiscal 2019 results at the end of August.

Nine has given no reason for Barnes's departure and said in a statement on Wednesday it hoped to name a replacement shortly.

In its most recent half-year results, the company reported a 1.6 per cent fall in its post-tax profit.

Barnes joined the media company in July 2016 and was present when Nine bought newspaper publisher Fairfax Media two years later, in one of the biggest shake-ups in Australian media for decades.

News of Barnes's departure comes days after Nine offered to buy all Macquarie Media, a deal that would make it the first Australian media company with outright ownership in free-to-air television, print and radio assets.

Nine shares have jumped more than 35 per cent so far this year and closed 1.6 per cent higher on Wednesday at $1.895.