Nine Network Struggles to Meet Olympic Advertising Targets

Australia’s Nine Network is suffering because of the weak advertising market ahead of the London 2012 Olympics.

The advertising market as well as the expensive broadcasting rights and  high production costs.

Nine had targeted about (Aus) $ 140M of  advertising revenues.

TV network bosses predicted Nine would fall (Aus) $ 10M-$15M short of its advertising revenue target, and it has failed to sell all its planned sponsorship packages.

The Olympics shortfall is likely to be keenly observed by Nine’s hedge fund lenders, who hold more than half of the company’s senior debt.{jcomments on}