Discovery (Three) Sky’s decision to go after a bigger share of the advertising market appears to be working. Sky’s chief executive, Sophie Moloney, was upbeat about the new strategy. The Herald and Newstalk ZB owner’s operating profit was $56.2m, down from $64.7m in 2022 and under its lowest forecast made just in November. That was on total operating revenue of $340m (down from $355m). NZME, which through last year twice told the market it believed the advertising market was about to pick up, is less bullish now.

Source: New Zealand Herald February 22, 2024 19:31 UTC