MAM
Hugh Marks resigns as CEO of Nine Entertainment
MUMBAI: Hugh Marks has resigned as CEO of leading Australian media conglomerate Nine Entertainment. His departure was announced on Monday.
The 54-year-old will "actively continue" in his role as group CEO till his exit sometime during the second half of the current fiscal, i.e. June 2021. Meanwhile, the board has already begun looking for a replacement for Marks.
“When I was appointed CEO five years ago, my brief was to lead the transformation of what was then a television business to a digitally-based media company. We have achieved so much in that time frame. Bringing together three legacy media businesses, each with their own structural challenges, and investing in the assets that will ensure our position at the forefront of Australia’s media future,” Marks said in a statement.
During his time at the company, Nine acquired Fairfax Media, a newspaper and TV group that owned the other half of streaming platform Stan not owned by Nine. The company also acquired Macquarie Media. These are now known as Nine Publishing and Nine Radio.
For the 12-month period to end-June 2020, Nine reported losses of $419 million on revenue of $1.60 billion. Profits for continuing businesses were $117 million, a drop of 19 per cent.
Marks added, “Nine’s suite of assets today – with Stan, 9Now and Domain complementing our core broadcasting and publishing businesses – is second to none in Australia. With almost 50 per cent of our earnings sourced from our digital assets providing a clear growth profile for the company. I am confident this is an opportune time to announce my retirement."
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
