Nine and Australian News Channel (ANC), a wholly owned subsidiary of News Corp Australia, have combined to create a dedicated 24-hour business, personal finance and luxury lifestyle channel.
The joint venture and new channel, Your Money, will be broadcast free to air on Channel 95, part of Nine’s digital spectrum, and on its streaming service 9Now. It will also be available on Foxtel Channel 601, as well as streaming service Foxtel Now.
CEO of the joint venture company will be Kylie Merritt, currently commercial director of ANC, and David Ash, formerly of Nine digital, will be head of digital for the joint venture, effective immediately.
Set to launch later this year, Your Money will be a 50/50 joint venture with its studio and operations based at the News Corp Australia’s National Business Hub at Holt Street, Surry Hills, Sydney.
Your Money will cover personal finance, luxury lifestyle, real estate, small and big business market moves with live coverage of the trading day.
The on-air lineup for the new channel will feature leading business journalists Brooke Corte and Ticky Fullerton from the former Sky News Business channel. The full on-air lineup will be revealed later this year.
Hugh Marks, chief executive officer of Nine, said: “We are thrilled to partner with Australian News Channel in this exciting joint venture. Our ambition is to take business and finance news reporting, and turn it on its head. We want to re-energise it, giving our expert journalists and commentators a brand new platform to lead the way in the Australian business market.”
Angelos Frangopoulos, CEO and managing editor of ANC, said: “We are setting the stage for a bold new era in business and finance news and commentary in Australia with a new go-to channel for viewers, businesses and advertisers.
“Our joint venture will take our new business and finance content to even wider audiences, bringing together the leading business journalists and commentators on the country’s foremost business and personal finance channel.”
Michael Miller, executive chairman of News Corp Australasia, said: “This joint venture presents exciting opportunities for News Corp, for Australian News Channel and for Nine to take a leading position in both the business and consumer markets.
“We are doubling down with our channels, accessibility, audiences, talent and our content – specifically Australian content – along with our marketing and amplification opportunities, taking the news from broadcast to print, digital and beyond.
“Your Money will leverage the power of Sky News and Nine’s assets and is without doubt a repositioning of business and finance news in the country. It’s a great outcome for corporate Australia and for Australians wanting coverage that helps them better manage their finances.”
The joint venture will form its own management team, program and talent lineup.
The Sky News Business channel will cease to exist once the joint venture is launched.
Top photo: Kylie Merritt and David Ash