Nine CEO Hugh Marks is to exit the business. A formal process to find his replacement has begun, though Marks will stay on to help with the transition.

During his time as CEO Marks oversaw the mega-merger of Nine and Fairfax, the acquisition of radio business Macquarie Media and most recently, the move to have all staff housed in Nine's new North Sydney offices.

"I want to take this opportunity to tell you what a privilege it has been leading this business over a truly transformational period for both the media market generally, and particularly our business," Marks stated.

"We have gone from being three separate, legacy media businesses in Nine, Fairfax Media and Macquarie Media, each with their own structural challenges, and created a business that now has a diversified revenue base across both advertising and subscription, and that has a clear growth strategy for decades to come."