By Elizabeth Knight
But some of the Optus subscribers were given concessional rates if they used the Optus phone network so Stan pricing may prove too rich for some soccer fans. Even after accounting for the fact that not all these subscribers are bankable, Nine told investors that the deal would improve Stan鈥檚 profit and cashflow.
Fresh from the sale of its 60 per cent stake in real estate portal Domain which netted Nine proceeds of $1.4 billion, Nine鈥檚 new boss, Matt Stanton, has the cash to invest. And it is probably no accident that Stanton has chosen Stan Sport as the recipient of the first lick of cash.
Having sold its stake in digital business Domain, Nine needs an asset in which there is potential for growth given free to air television is in long-term decline.
Sure, Domain was not firing in all earnings cylinders, but it was operating in a duopoly in a country that is real estate obsessed. In 2024, Domain grew its profit by 32 per cent.