Nine’s CEO Mike Sneesby jets off to Greece as media company crumbles

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Nine’s chief executive officer Mike Sneesby jetted off to Greece on Friday, June 28, just hours after slashing the embattled media company’s staffing by four per cent.

According to The Daily Telegraph, Mr Sneesby is travelling to Greece for a week-long family holiday and is expected to attend a family member’s wedding during his visit to the Mediterranean country. He was spotted in the first-class lounge at Sydney Airport on Friday evening.

This comes after Mr Sneesby has faced significant pressure over the past month due to his perceived mishandling of serious harassment allegations levelled against former Nine news boss Darren Wick.

Mike-Sneesby-Nine-CEO
Nine’s publishing division includes The Sydney Morning Herald, The Age, The Australian Financial Review, the Brisbane Times and WAtoday.

Mr Sneesby is also facing anger from staff after announcing on Friday, June 28 – before he went on leave – that the company would be cutting 200 jobs mainly from Nine’s publishing division, which includes The Sydney Morning Herald, The Age, The Australian Financial Review, the Brisbane Times and WAtoday.

As many as 90 roles across Nine’s publishing division will be made redundant. A further 38 jobs will be shed in the company’s TV arm, with the remainder of the cuts spread across the rest of the media organisation.

In announcing the job cuts via a company-wide email last Friday, Mr Sneesby cited the prolonged slump in advertising revenue, along with Meta’s decision to walk away from the renegotiation of its payment-for-content deals with news media companies, as the main reasons for the savage cost cutting.

Source: The Daily Telegraph

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