Australia's Nine Entertainment Mulls Magazine Unit Sale (But Not To Harry Sloan)

Don Groves is a Deadline contributor based in Sydney.

The debt-ridden private equity owners of the Nine Entertainment Co. are poised to sell the ACP Magazines division after meeting with potential buyers including Germany’s Bauer Media Group, the Sydney Daily Telegraph reports. That suggests the rumored $A3 billion ($3.1 billion) offer for Nine Entertainment from former Hollywood MGM mogul Harry Sloan and U.S. private equity group TPG hasn’t developed. A source close to Nine Entertainment tells Deadline that Sloan-TPG were “tirekickers” who were never going to make a serious bid. (more…)

This article was printed from https://deadline.com/2012/08/australias-nine-entertainment-mulls-magazine-unit-sale-but-not-to-harry-sloan-312763/