Rumours of a Nine Entertainment float flow in while talk of a Southern Cross merger ebbs, and the big miners are talking trim figures.

Nine Entertainment’s new owners are reportedly thinking more about an IPO with a Southern Cross Media merger seemingly petering out. Rio Tinto is talking tough about cost cuts and asset sales as the boss of rival BHP Billiton sells a similarly frugal message. Elsewhere, Telstra has picked up a big contract with the Department of Defence, while Geoff Dixon and Mark Carnegie have swapped agitating Qantas to buying up more pubs.

Nine Entertainment, Oaktree Capital, Apollo Global Management



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