Nine publishing boss confirms Meta deal has ended as she attempts to quell staff anger at cuts
In a Monday town hall meeting over Nine's proposed job cuts, Nine's managing director of publishing Tory Maguire confirmed that the Meta money is no longer flowing.
Nine Entertainment’s managing director of publishing Tory Maguire confirmed it is no longer receiving money from Meta, as she addressed staff after the company announced 200 job cuts that journalists say disproportionately target newspaper staff.
On Friday, Nine chief executive Mike Sneesby revealed the company would cut 200 jobs in response to a tough advertising market and Meta’s decision to abandon news deals with publishers worth between $70 million and $100 million a year.
Between 70 and 90 will be cut from Nine’s publishing division — which houses The Sydney Morning Herald, The Age, and the Australian Financial Review — while 38 will be cut from TV and current affairs.
In a town hall on Monday, Maguire said the company still holds hope for government action on the deals Meta struck with 13 publishers in 2021 under the News Media Bargaining Code, after the tech giant announced in March that it would not renew them. She said the money stopped coming in last week.
