Daily Mail and Nine Entertainment Company (NEC) have announced that Daily Mail Australia is to become 100% owned by the Daily Mail and General Trust (DMGT).
The move was announced in a statement today with Martin Clarke, global mail online publisher and CEO, saying: “I’d like to thank Nine for its sterling support since we launched two years ago to make Daily Mail Australia one of Australia’s leading news sites but both companies felt that in a changing media landscape the needs of the website were best served by sole ownership going forward.
“We are now planning for even more investment in our editorial and commercial offerings."
Despite the announcement, today's news will see no change to the Daily Mail Australia website or its local operations.
Hugh Marks, CEO of Nine says: “As our consumer and commercial interests evolve we have agreed with DMGT that our individual interests are best served by unwinding the JV – the NEC team wish them well as they continue to build their business in the Australian market.”
There had been several rumours in the marketplace about the success of the joint venture, and if both parties were getting the most out of the partnership.
Daily Mail Australia launched on 1 January 2014 and is currently the fifth most read news website in Australia according to the latest Nielsen online figures.
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