News: Nine Entertainment posts $160 mln FY loss on Warner Bros content writedown

Aug 24 (Reuters) - Australian television broadcaster Nine Entertainment Co Ltd (NEC) on Thursday reported an annual net loss, compared with a profit the previous year, as it wrote down the value of an "onerous" content supply contract with Time Warner Inc .

Nine's net loss for the year to end-June was A$203.4 million ($160.81 million), compared with a net profit of A$33.2 million the previous year.

The result included an A$86 million provision to "exit the life of series obligations on a list of U.S. dramas and comedies with Warner Bros", Nine said, referring to the Time Warner production unit. ($1 = 1.2649 Australian dollars)