The Daily Mail has ended its joint venture with Nine Entertainment and taken full control of its Australian news and entertainment website.
The two companies, which described the decision as mutual, announced the joint venture in 2013 with the newsroom opening in Sydney on 1 January 2014.
Martin Clarke, the chief executive of the Mail Online’s global operation, said the fast-changing digital market meant 100% ownership was the best model.
“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,” he said.
Clarke said the Daily Mail General Trust’s full ownership meant there would be more investment made in the Australian site’s editorial and commercial operations including new hires. It’s current operation has around 65 staff members.
Hugh Marks, chief executive of Nine Entertainment said both company’s interests were best served by going their separate ways.
“As our consumer and commercial interests evolve, we have agreed with DMGT that our individual interests are best served by unwinding the joint venture,” he said. “The NEC team wish them well as they continue to build their business in the Australian market.”
DMGT said the change in ownership will not affect management, with Peter Holder, managing director of the Australian business, continuing to report to Clarke.
The Daily Mail Australia has approximately 2 million monthly readers and has operations in Sydney, Melbourne and Brisbane.
Taking full control of the Australian business brings it in line with the Daily Mail’s US and UK digital operations, which are wholly owned by DMGT.