Media Wrap: $720m worth of Nine up for grabs | Fairfax to join Nine's board?

By AdNews | 25 August 2014

$720m worth of Nine up for grabs
As Nine prepares to announce its first results since it listed, $720 million or 36% of shares from the free-to-air television, digital and events business are due out of escrow. The Australian Financial Review reports that speculation is growing over what US hedge funds Oaktree Capital and Apollo Global Management, which jointly own the funds, will do.

Fairfax to join Nine's board?
One company that may be interested in that pile of shares is Fairfax Media. The Australian reports that Fairfax is considering buying a strategic stake in Nine Entertainment to gain a seat on the company’s board ahead of potential regulatory changes that could spark a $4 billion merger between the publisher and TV network.

Seven and Foxtel in streaming partnership
Seven West Media is in advanced talks with pay television operator Foxtel about a video streaming joint venture, which could also involve Ten Network Holdings, The AFR reports. The partnership would provide Foxtel's video streaming service Presto, a huge marketing platform as well as access to a vast amount of content.

Williams: Leaks didn't come from me
Also in The Australian, Kim Williams former News Corp Australia and Foxtel chief executive, told the paper that he found the conspiracy theories that he had leaked News Corp’s 2013 financial results to generate publicity for his new book highly offensive.

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