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MELBOURNE - Eddie McGuire has announced his resignation as chief executive of the Nine Network.
Nine said McGuire will move to an increased presence on air and the provision of creative and programming services, with the change taking effect from June 30.
"I am of the view that my best contribution to Nine is in the creative elements of the business and that has prompted this change," Mr McGuire said in a statement.
"I am looking forward to the change in role and to continue working with the executive team at Nine.
"I have made a commitment for the next five years and we have a clear mandate to produce the best local content in Australia."
PBL Media chief executive Ian Law said Mr McGuire would not be replaced directly.
"We are not proposing to directly replace the role of CEO of Nine," Mr Law said in a statement'
"The existing Nine Network management team headed up by Jeffrey Browne (executive director) will take the Network forward.
"The new management structure at Nine will also continue the process of integrating all the media properties in PBL Media Pty Limited including the Nine Network Australia, ACP Magazines, and our interests in ninemsn, carsales and myhome.com.au."
Mr Law said Nine had benefited greatly from Mr McGuire's role.
"Mr McGuire will continue as a key member of the executive team of Nine, and will work closely with the Director of Programming on concepts and ideas for new shows," he said.
Mr McGuire said he would sign a contract to remain with the network and do more on air work after working at the station for the past 14 years.
He said he was proud of the financial position the network is in.
"I was very strong in maintaining this position until now because we have put the financial runs on the board, we have been able to get the business into shape," Mr McGuire told Macquarie Radio.
"Let's not forget it was sold for $A4.5 ($NZ5.13) billion for 50 percent of it.
"We are achieving all the financial benchmarks we were said to do for the financial year so I'm very proud we've been able to do that."
He said he was happy to leave the executive decisions to Mr Law and Mr Browne.
"Ian Law, Jeff Browne are in the chair to do those sort of areas and I can get back and do some television and as I said I've got some other endeavours outside of television," he said.
He said he hoped he would leave a legacy with new programs to be shown on Channel Nine in the next 12 months.
"I'm looking forward to getting back into production, working closely with my colleagues at Channel Nine."
He said PBL boss James Packer remained a mate and they would continue to do business together.
- AAP
