Nine Entertainment Co.

Nine Entertainment Co. 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 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.

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 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.