$5.5B PBL Media
I wonder what it values ninemsn at, and is IPO of individual assets the exit strategy ? This is a big catalyst deal for the media and online media market. Love it. PBL as always is the first of the convergent media groups to use the private equity angle to unlock value. As they say, when money's cheap and there are new financial instruments to use, The Barbarians at the Gate can be of value.
The Australian : "PBL said it had entered into binding agreements to implement a recapitalisation of certain of its media interests, including ACP Magazines, Nine Network (including its interest in Sky News), its 50 per cent interest in ninemsn and its 41 per cent shareholding in carsales.com.au."
The Australian : "PBL said it had entered into binding agreements to implement a recapitalisation of certain of its media interests, including ACP Magazines, Nine Network (including its interest in Sky News), its 50 per cent interest in ninemsn and its 41 per cent shareholding in carsales.com.au."
posted by redbarren at 4:28 PM
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