SYDNEY: James Packer, Australia's richest man, is in talks to sell a further 25% of his TV and magazines joint venture to private equity group CVC, ending his family's long-running control over key Australian media assets.
Packer's Publishing & Broadcasting Ltd (PBL), which last year tipped half its media assets into a joint venture with CVC Asia Pacific, said yesterday it was in talks to reduce its stake to 25%.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!