Nine Entertainment Company has ended its two-year joint venture with Daily Mail Australia, the local web version of the popular British tabloid newspaper.
It will now be completely owned by its parent company in Britain, the Daily Mail and General Trust.
Nine Entertainment chief executive Hugh Marks said his company’s interests had changed.
“As our consumer and commercial interests evolve we have agreed with DMGT that our individual interests are best served by unwinding the JV.”
Global MailOnline publisher and CEO Martin Clarke said this decision reflected the changes in the industry.
“Both companies felt that in a changing media landscape the needs of the website were best served by sole-ownership going forward,” he said.
“We are now planning for even more investment in our editorial and commercial offerings.”
There will be no change to the Daily Mail Australia website.
Peter Holder will continue as managing director of Daily Mail Australia. He will report to Mr Clarke.
Daily Mail Australia launched on January 1, 2014. Its newsrooms and commercial teams are located in Sydney, Melbourne, and Brisbane.
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