Mr Falloon previously told the Herald and The Age there were no issues with his use of any membership and he had not spent a dollar of company money. People familiar with Mr Falloon’s decision said he gave his son access to the membership so they could play golf together. Golf cards revealed they have played at least three times together since mid-2018 including last September.

The conclusion of the investigation has coincided with the arrival of newly appointed directors Mike Sneesby (Nine’s new chief executive) and WIN Corp chief executive Andrew Lancaster, who is representing the interests of major shareholder Bruce Gordon.

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Other directors on the board are chairman Peter Costello, Samantha Lewis, Catherine West and Mickie Rosen. The board forms what is one of Australia’s largest media companies with television, radio, real-estate and publishing assets.

Board tensions were exposed by the resignation of former chief executive Hugh Marks, who revealed last November he was in a relationship with one of his key executives, Alexi Baker. The former Fairfax and Nine directors were at loggerheads over the resignation, and some directors did not feel adequately informed about important developments inside the company.