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Nine Entertainment Co Holdings Limited (ASX:NEC) and financial services firm Yellow Brick Road Holdings Limited (ASX:YBR) have struck a five year strategic marketing deal.
Under the agreement Yellow Brick Road and its affiliates will gain access to Nine’s media and communications platforms at discounted rates.
In return Yellow Brick Road will place a minimum amount of its advertising spending with the media group’s platforms.
Yellow Brick Road’s Executive Chairman Mark Bouris has praised Nine’s partnership and support and says the leverage the company generates for Yellow Brick Road’s marketing activities is second-to-none.
The news came on the same day Nine announced it has refinanced its debt facilities in a move which is expected to generate annual cost savings of about $20 million.
Nine Entertainment Co Holdings reported a net profit of $31.7 million in the first half of the 2014 financial year.
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