Telstra Corporation Ltd has emerged as a potential wild card bidder for embattled Nine Entertainment, according to a report by The Australian.
Telstra has reportedly been consulting with investment bank adviser Credit Suisse over the past month to assess whether a play for Nine would be in the telecommunication company's best interests, and no valuation or firm offer has yet emerged.
Last month, Telstra chief executive David Thodey said the company would consider acquisitions that fit into three growth areas – media, Asia and cloud computing, The Australian reported.
Nine has been valued at about $3 billion, but its owners face a looming deadline on $3.8 billion in debt that has driven their desire to find a new buyer.
Now for the FIGJAM moment: http://www.pcmediace...dpost__p__96300
That was nearly 6 years ago, before the NBN was a concept, before the cross media ownership laws had changed & before channel 9 was sold to private equity.