Type Public Industry Media Products Television, Digital Motto Entertaining Australia Parent organization Nine Entertainment Co. | Traded as ASX: NEC Predecessor PBL Media Headquarters Sydney, Australia Founded October 2006 | |
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Key people Peter Costello, Chairman
Hugh Marks, CEO Stock price NEC (ASX) A$ 1.20 0.00 (0.00%)27 Mar, 4:10 PM GMT+11 - Disclaimer CEO Hugh John Marks (Nov 2015–) Subsidiaries Nine Network, Mi9, Ticketek, DTD | ||
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.
Contents
Timeline and Acquisitions
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.
In October 2015 WIN Corporation purchased a 14% stake in Nine Entertainment Co. from investment fund operator Apollo.
In March 2016, Nine Entertainment Co purchased a 9.9% stake in Southern Cross Media Group from the Macquarie Group.
On 29 April 2016, Nine Entertainment Co. ended a 27 year affiliation agreement with WIN Corporation, instead partnering with Southern Cross Austereo in parts of regional Queensland, New South Wales and Victoria, after securing a 50% revenue sharing deal with Southern Cross, which is higher than its existing 39% deal with WIN.
Television Networks
Local TV Stations
Digital Media
Media companies
Former Assets
History
The company was a successor of the long-established Australian media group Publishing and Broadcasting Ltd (PBL), created by Sir Frank Packer, whose Channel 9 was Australia's first TV network. The TV and magazines group was substantially expanded by his son Kerry Packer, but after Kerry Packer's death in 2005, his son James sold his media interests. 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 Dalgleish, Robert Lucas, Adrian MacKenzie and Maarten Ruijs.
James Packer and Alexander quit the PBL Media board in 2008.
In November 2015, Hugh Marks was appointed CEO. He replaced David Gyngell, who remains on the board. In February 2016, Peter Costello was appointed chairman.