Australia’s largest media companies have started the new financial year on a sour note, with job losses and internal restructures fuelled by a protracted downturn in the advertising market.

The ad dollars greasing the wheels of the major players – Nine Entertainment (owner of this masthead), Seven West Media and News Corp – have seemingly dried up. This drought, combined with Facebook owner Meta’s decision to pull the plug on its commercial arrangements – forged under the news media bargaining code – has sent the industry scrambling for........

© The Sydney Morning Herald