ASIC reveals its role in Nine’s $260 million network writedown

The corporate regulator has claimed it played a role in Nine’s decision to write down by $260 million the goodwill value of its television network, a week after it revealed a similar involvement in a $75.5 million impairment at Seven West Media. Nine’s writedown was announced in its half-year results on February 23 and pushed a $75 million underlying profit into a $237 million loss for the first half.