Australian media giant Nine Entertainment Co. is undergoing a major organizational overhaul, announcing a streamlined operating model and the appointment of new executives as it aims to cut costs by A$50 million ($31 million) in fiscal 2025.

The company will consolidate its operations into three core divisions: streaming and broadcasting, publishing and marketing. In a key move, Nine has hired industry veteran Amanda Laing to lead its newly formed streaming and broadcast division, which includes streaming Stan, live streaming, video on demand and TV catch-up service 9Now, broadcast TV and radio. Laing joins Foxtel Group from chief commercial and content officer and managing director of Binge.

Publishing chief Tory Maguire's portfolio will expand to include nine.com.au, as well as the company's renowned mastheads The Sydney Morning Herald, The Age ” (The Age) and “The Australian Financial Review” (The Australian Financial Review). Meanwhile, Alex Parsons will oversee the new marketing divisions, which include Domain and Drive, while retaining his chief digital officer responsibilities.

The reorganization appoints James Boyce, former head of government and regulatory affairs at Paramount ANZ, as director of regulatory, public affairs and communications. Nine will now have a streamlined executive team of eight people reporting to acting chief executive Matt Stanton.

"Our operating model reset will help accelerate Nine's ongoing strategic transformation by improving how different parts of the business work together," Stanton said. "Our new approach will enable the business to better manage a challenging external environment. , and ensure that the company is fit for the future and can sustainably serve our consumers, partners, shareholders and people.”

The sweeping changes are designed to capitalize on Nine's premium media assets while reducing operational redundancy. The reorganization retains Domain's current business structure and governance as an ASX-listed entity.

Stanton highlighted Lane's appointment, noting that she is "one of the top media executives in the country" who will "add extraordinary industry expertise and energy to Nine's experienced management team in 2025", while adding Boyce will "increase the group's focus on the evolving industry" regulatory environment. "

Stan's hit originals include "Ten Pound Ball," "Totally Perfect" and "Bad Behavior."