Nine valued at up to $3bn

Adviser says media group should trade at a premium to rival Seven West Media.

Macquarie Group (MQG) has valued Nine Entertainment Co at $2.46 billion to $2.93 billion ahead of its initial public offering, The Australian Financial Review reports.

According to the newspaper, the advisor said the media group should trade at up to a 22% premium to rival Seven West Media. 

Nine's IPO is expected to be the largest float of a privately owned company in the Australian market since 2010.

Macquarie valued Nine at 8.1 to 9.6 times forecast 2014 earnings, the AFR reports. 

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