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Nine CEO's remuneration hit as profit dips

AAP logoAAP 6/10/2016

Nine Entertainment chief executive Hugh Marks was paid more than $1.38 million in the last financial year amid disappointing ratings and falling revenue.

The broadcaster's annual report released on Friday showed Mr Marks received $1.388 million in total remuneration despite forfeiting 80 per cent of his target short-term incentives as Nine's underlying net profit declined 7.1 per cent to $120.3 million.

Managing director Amanda Laing forfeited the same proportion of short-term incentives and received $1.267 million in the year to June 30, when Nine's revenue dropped six per cent to $1.29 billion.

Announcing the results in August, Mr Marks described the ratings and revenue performance of Nine's core free-to-air business disappointing, due to a combination of the challenging ad market and poor programming outcomes.

"However, we are taking positive steps to regain momentum in our ratings and revenue, with a well-advanced content plan for 2017 incorporating 50 per cent more premium local television content," he said at the time.

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