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Nine Entertainment Co Holdings Limited (ASX:NEC) has sold Nine Live to private equity firm Affinity Equity Partners for $640 million.The television and entertainment company says the sale will release significant proceeds to enable enhanced shareholder returns while retaining substantial financial flexibility.Nine will retain a commercial relationship with the business and work together in areas where there are mutual benefits between Nine Entertainment and Nine Live.The company says it now plans to focus on optimising the performance of its free-to-air TV, digital and subscription streaming businesses and maximising shareholders returns.Nine Entertainment Co Holdings reported a net profit of $90.98 million in the first half of the 2015 financial year.
News: Nine Entertainment sells Nine Live for $640M
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Last
$1.28 |
Change
0.010(0.79%) |
Mkt cap ! $1.958B | |||
| Open | High | Low | Value | Volume |
| $1.29 | $1.31 | $1.28 | $4.863M | 3.819M |
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| No. | Vol. | Price($) |
|---|---|---|
| 5 | 68389 | $1.28 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.29 | 25886 | 4 |
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