½ñÈÕÈÈÃÅʼþ

media release (17-045MR)

Nine Entertainment writes down Nine Network goodwill

Published

½ñÈÕÈÈÃÅʼþnotes the decision by Nine Entertainment Co. Holdings Limited (Nine) to write down goodwill relating to the Nine Network by $260 million in its financial report for the half-year ended 31 December 2016. 

½ñÈÕÈÈÃÅʼþreviewed Nine's 30 June 2016 financial report as part of its ongoing financial surveillance program.Ìý½ñÈÕÈÈÃÅʼþraised concerns regarding the value of the goodwill relating to the Nine Network. 

As outlined in ½ñÈÕÈÈÃÅʼþmedia release 16-428 ½ñÈÕÈÈÃÅʼþcalls on preparers to focus on useful and meaningful financial reports, impairment testing and asset values remains a focus area of our financial reporting surveillance.Ìý

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