Just the ticket for Nine

As margins from its TV business shrink, Nine has an opportunity – if it moves quickly – to secure a live entertainment business unmatched in Australia and difficult to duplicate.

This time last year David Gyngell orchestrated what many deemed impossible: pulling the Nine Entertainment Company out of a perilous debt situation. Then-owners CVC were staring down the barrel of a $2.3 billion debt payment due within months by main lenders Oaktree Capital Management and Apollo Global Management converting their owed funds into a combined 95.5 per cent equity position in the group, with Goldman Sachs taking a small 4.5 per cent stake.

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