According to The Australian, Nine Entertainment hopes to raise between A$800 million and A$1.2 billion when it floats on the Australian Securities Exchange by the end of the year. The listing could see Nine’s owners, hedge funds Apollo Global Management and Oaktree Capital Group, sell down as much as half their stakes a year after the approval by the federal court of a A$3.4bn recapitalisation of the company, added the report. The Australian added that the Nine float is aimed at replacing … [Read more...] about Australia’s Nine Entertainment plans for IPO
WIN
NINE’s MD Jeffrey Browne steps down
Jeffrey Browne is stepping down as Managing Director of the Nine Network on August 1, 2013, announced Nine Entertainment Co. CEO David Gyngell. “Jeff’s made the call after seven terrific years at the top of the Network - the time is right for him and he departs the role with Nine in fantastic shape,” Gyngell said. “I’ll miss him not only as a robust and talented Managing Director, but the best deal closer in the business, a friend and simply a terrific bloke. He … [Read more...] about NINE’s MD Jeffrey Browne steps down
ABC and WIN in playout JV; job cuts expected
Sydney - The Australian Broadcasting Corporation (ABC) has gone into business with commercial broadcaster WIN to build a state-of-the-art TV presentation and master control centre in Sydney, reports The Australian. The new centre will be managed by a board comprised of executives from both organisations. The unprecedented joint venture will involve the loss of up to 60 public and private sector jobs and will see the public broadcaster relinquish total control of a major function for the first … [Read more...] about ABC and WIN in playout JV; job cuts expected
