(Image: Nine)

Nine inherited three big things out of the Fairfax merger: full ownership of leading local streaming service Stan, a controlling stake in real estate advertiser Domain, and the enduring hatred of News Corp.

The contributions of Stan and Domain to corporate profits were on display in the company’s release of its end-of-year figures today (revenue up by 15% to $1.3 billion, profits up 20%). Despite increased programming costs in an increasingly competitive market, Stan continues to make money off its 2.5 million subscribers. The largely digital Domain saw net profit up, proving yet again the value of booming real estate to Australian media.

For the increasingly heated war with News Corp, look to the companies’ mastheads. There, it’s journalistic hand-to-hand combat with an "exclusive" here and a spoiler rebuttal there, each weaponised to build up or tear down the trust that media need to monetise in the chase for subscriptions.