Shares in Nine Entertainment have plunged 20 per cent in early trade after the media group slashed its full-year earnings guidance.
Nine warned on Friday, after the stock market closed, that it was downgrading its guidance to between $285 million and $290 million because of weaker-than-expected advertising revenues.
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Its previous forecast was for $311 million in earnings for the year to June 30.
Shares in Nine were 40 cents, or 20.15 per cent, lower at $1.58 by 1014 AEST.
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