Nine Entertainment Co.
Nine Entertainment Co. (previously PBL Media) is a media company owned by CVC Asia Pacific. Originally a 50/50 joint venture with Consolidated Media Holdings, in June 2007 PBL announced that it would sell a further 25% to CVC for A$ 515 million.[2] In September 2007, it was announced that the transaction was to go ahead at the increased purchase price of approximately A$526 million[3].
On 27 October 2008, James Packer and Consolidated Media Holdings representatives quit the board of PBL Media, effectively ending financial backing and future associations with the company.
On 16 December 2008, PBL Media issued a press release stating that the company's majority shareholder, CVC Asia Pacific, had refinanced debt facilities as well as injecting in excess of A$300 million. CMH stated that they would not be investing any further funds, and as such, CMH's 25% interest became diluted to a stake less than 1%.
Under a recent split of PBL into two companies, PBL Media formerly held by PBL is now held by Consolidated Media Holdings[4].
From 2 December 2010, PBL Media rebranded as Nine Entertainment Co.[5]
Assets
- Television
- Nine Network, 100%, an Australian free-to-air television network.
- TCN Sydney, 100%, a metropolitan television station based in Sydney, Australia.
- GTV Melbourne, 100%, a metropolitan television station based in Melbourne, Australia.
- QTQ Brisbane, 100%, a metropolitan television station based in Brisbane, Australia.
- NTD Darwin, 100%, a metropolitan television station based in Darwin, Australia.
- GO!, 100%, a youth-dedicated Australian free-to-air digital multichannel.
- GEM, 100%, an HD Entertainment-dedicated Australian free-to-air digital multichannel.
- NBN Television, 100%, a regional television station based in Newcastle, Australia.
- DTD, 50%, a digital television station based in Darwin, Australia, joint-venture with Southern Cross Media Group.
- Digital
- Ninemsn, 50%, an online entertainment portal, joint-venture with Microsoft.
- My Home, 48.75%, an online real estate business, joint-ventue with Shane Dale and My Home Group.
- Australian News Channel, 33.33%, a subscription television news service, joint-venture with British Sky Broadcasting and Seven Media Group.
- Cudo, a group buying site launched as a joint venture with Microsoft. [6]
- Events
- Ticketek, 100%, an event ticketing business operating in Australia, New Zealand and Argentina.
- Acer Arena, 100%, an entertainment and sporting complex located in Sydney, Australia.
History
PBL Media was established in October 2006, when Publishing and Broadcasting Limited transferred its media interests, including the Australian Consolidated Press, Nine Network, and ninemsn, to the new business - a joint venture between PBL and CVC Asia Pacific. The recapitalisation was announced on 18 October 2006.
John Alexander, Chief Executive Officer of PBL, was announced as the Executive Chairman of PBL Media, along with Ian Law as CEO and Pat O'Sullivan as Chief Financial Officer. The company's current directors are Ian Law, Chris Anderson, Martin Dalgelish, Robert Lucas, Adrian MacKenzie and Maarten Ruijs.
James Packer and John Alexander quit the PBL Media board in December 2007.
References
- ^ a b c "Nine Entertainment reports $92.5 million net profit". The Spy Report/Media Spy. 12 December 2010. pp. 1. http://www.mediaspy.org/report/2010/12/12/nine-entertainment-reports-92-5-million-net-profit/. Retrieved 2010-12-12.
- ^ PBL Press Release (1 June 2007)
- ^ PBL Press Release (5 September 2007)
- ^ PBL Press Release (8 May 2007)
- ^ Gyngell, David (02 December 2010). "Thursday, 02 December 2010 Press Realease (sic) - Nine Entertainment Co" (PDF). Company Announcements & Media Releases. Sydney, NSW, Australia: Nine Entertainment Co. http://www.nineentertainment.com.au/assets/downloads/news/PRESS%20REALEASE%20-%20NINE%20ENTERTAINMENT%20CO_20101202135137.pdf. Retrieved 25 December 2011. "From today Nine Entertainment Co. is our group's new title, new brand and new future. It will embrace Nine Television, Nine Magazines (through ACP), Nine Digital (through ninemsn, Carsales, Cudo and Sky News), and Nine Events (through Ticketek and Acer Arena) and thus draw together under one new banner all the outstanding people and vast assets of this great company."
- ^ Zappone, Chris (26 May 2011). "Click on down, let's make a deal". The Sydney Morning Herald. http://www.smh.com.au/business/click-on-down-lets-make-a-deal-20110525-1f4cp.html. Retrieved 7 June 2011.
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