Please wait...
Please wait...

XYZ chief exits ahead of merger

Bruce Mann, CEO of Australian pay-TV channel operator XYZNetworks for a decade, is leaving ahead of the merger of its parent companies.

Bruce Mann

Bruce Mann

XYZ is joint-owned by pay-TV platforms Foxtel and Austar, which are due to merge next month in a deal worth A$2bn (US$2.1bn) after receiving the regulatory green light this month.

Ahead of this, Mann has decided to step down as XYZ’s chief after 10 years, during which time he has overseen nets such as The Lifestyle Channel, Channel [V] and The Weather Channel.

Today he said in a statement: “Foxtel is rightly taking advantage of this opportunity to create a national Foxtel brand which will include both the Austar and XYZNetworks assets.”

XYZ’s director of product, sales and marketing Nikki Warburton – wife of Network Ten boss James – has also announced her departure.

During Mann’s tenure, XYZ expanded its channel bouquet from six to 12. Along with the Lifestyle-branded nets, XYZ also joint-owns Nickelodeon Australia and its sister net Nick Jr, and distributes Discovery Channel in the territory.

Mann said he was leaving XYZ in “great shape,” claiming it was “the jewel in the crown.” He also the company had hit its financial targets in each year he had been CEO.

“We have developed a suite of themed channel brands that are the leaders in their genres, and we have a fantastic team of TV professionals who understand their audiences intimately and consistently produce innovative programming.”

Mann said of his next move: “Media is in my blood, but what I really enjoy is building and growing consumer brands and recruiting, developing and motivating people. My aim is to apply these skills and experience in my next role, whether it be in media or in another industry.”

The Australian Competition and Consumer Commission greenlit Foxtel’s bid to take over smaller rival Austar United Communications after Foxtel agreed to court-enforceable undertakings. The deal goes through on May 24.

RELATED ARTICLES

Please wait...