Nine Entertainment Co
 |
|
| Public | |
| Traded as | ASX: NEC |
| Industry | Media |
| Predecessor | PBL Media |
| Founded | October 2006 |
| Headquarters | Sydney, Australia |
|
Key people
|
Peter Costello, Chairman Hugh Marks, CEO |
| Products | Television, Digital |
| Revenue |
 $ 406 Million (FY 2010) |
|
$ 92.5 Million (FY 2010) |
|
| Total assets |
$ 675 Million (FY 2010) |
| Subsidiaries | Mi9 |
| Website | www |
Nine Entertainment Company Holdings Ltd. is an Australian publicly listed media company. Originally a 50/50 joint venture with Consolidated Media Holdings, in June 2007 PBL announced that it would sell a further 25% to CVC Capital Partners for A$515 million. In September 2007, it was announced that the transaction was to go ahead at the increased purchase price of approximately A$526 million.
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 Capital Partners, 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 split of PBL into two companies, PBL Media formerly held by PBL is now held by Consolidated Media Holdings.
From 2 December 2010, PBL Media rebranded as Nine Entertainment Company In December 2011 former McDonald’s Australia chief executive Peter Bush was appointed chairman following the resignation of Tim Parker.
In February 2013 David Haslingden who was previously President and Chief Operating Officer of Fox Networks Group was appointed to the Board as an Independent Non-Executive Director and Chairman
December 2013 Nine Entertainment listed on the ASX as NEC. Vendors included Apollo Global Management, Oaktree Capital and Goldman Sachs who took over from CVC in a refinancing deal in Oct 2012.
In 2014, Nine Entertainment Co founded online streaming company Stan with Fairfax Media, investing AU$50 million into the joint venture.
On 16 April 2015 Nine Entertainment Co announced the sale of its Nine Live business to Affinity Equity Partners for $640 million to reduce debt and fund an ongoing capital management program.
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