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CVC Asia Pacific Is To Invest Additional AUS$335 Million In PBL Media

Private equity group CVC Asia Pacific has decided to invest a further AUS$335 million ($224 million) in its portfolio company PBL Media, according to reports. CVC is also to cancel $110 million of excess undrawn facilities. Consolidated Media Holdings, a

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Private equity group CVC Asia Pacific has decided to invest a further AUS$335 million ($224 million) in its portfolio company PBL Media, according to reports. CVC is also to cancel $110 million of excess undrawn facilities.

Consolidated Media Holdings, a 25% shareholder in PBL Media, did not contribute further equity into the company. As a result, the companys stake dropped to 0.07%.

PBL owns Nine Network Australia, ACP Magazines, Ticketek and Acer Arena. It has majority interests in carsales.com, NBN Television, a 50% interest in ninemsn, and interests in Mathletics and the Australian News Channel (Sky News).

D.C.

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