Matt Stanton keeps cards close to his chest as Nine begins post-Domain era
The domestic media giant's CEO all but ruled out any deal for radio operator Southern Cross, hinting that it could use its real estate platform windfall for organic growth.
Nine Entertainment CEO Matt Stanton has kept his cards close to his chest over how the company is thinking about life after Domain, as the company prepares to deploy a billion-dollar windfall from the sale of its digital real estate business.
Stanton, speaking to Capital Brief after Nine handed down its full-year earnings result, expressed ongoing confidence in the company’s core assets, which are set for “organic” investment of between $45 million and $55 million in the 2026 fiscal year.
But he also spoke cautiously about whether the company has set acquisition targets or is considering any deal activity once it receives the proceeds of its 60% stake in Domain, which officially changed hands on Wednesday.
Nine announced on Wednesday that it would return $780 million of the $1.4 billion windfall from the sale to shareholders, leaving roughly $600 million for the company to acquire a target or reinvest in the business.
