Nine Entertainment Co has reportedly entered into sales talks with Hollywood mogul Harry Sloan, a former chairman of famed film studio MGM.
According to the Australian Financial Review, Sloan is talking with Nine's owners to take control of the television, magazine and digital business, which is weighed down by $2.8 billion in senior debt.
The report claimed Sloan has met with Nine chief David Gyngell as well as Nine backers CVC Asia Pacific and Goldman Sachs.
CVC Asia Pacific and Goldman Sachs are currently contemplating several deals, as the February deadline to repay the company's debt fast approaches.
Fairfax has been named as another company looking at Nine's assets.
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