Nine's revenue tipped to rise
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Nine Entertainment Co's prospectus is tipped to reveal a $100 million boost in revenue for fiscal 2013, adding to the network's IPO appeal, The Australian reports.
According to the newspaper, the revenue lift is a result of Nine's improved standing in the ratings and revenue share, which has allowed it to gain on rival Seven.
However, earnings before interest and tax (EBIT) are expected to be flat, with the cost of broadcast rights - most notably for last year's London Olympics - weighing on profitability.
The Australian reports Nine chief executive officer is expecting a conservative 2.5% uptick in the ad market this calendar year, considerably lower than analysts expectations for a 3.5% rise.
Nine's float is on schedule to be completed by mid-December.
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