Australia media giant Nine Entertainment's boss Hugh Marks quits

[SYDNEY] The chief executive officer of Australia's largest locally-owned media company Nine Entertainment Hugh Marks has resigned from his post.

Mr Marks announced his departure to staff in a message on Saturday, according to a copy of the note provided by a company spokesperson.

An announcement to the market is expected to be made on Monday, the note said.

Mr Marks didn't provide a reason for his departure in the farewell message, or when his resignation would take effect.

The company will soon initiate a formal process for internal and external candidates to find a replacement, he said.

"After five successful years for Nine, I have decided the time is right for me begin the process of moving on," Mr Marks said. "I will be around to ensure a smooth transition as the business embarks on its next stage of growth."

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Mr Marks has been in charge of the company since 2015 and oversaw the merger with the Fairfax newspaper group during his tenure.

Nine's assets include an Australian television network, radio stations and newspapers including the Sydney Morning Herald and the Australian Financial Review.

BLOOMBERG