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Packer parts with PBL Media

James Packer is stepping down from the board of PBL Media, ending a long family association with the Nine Network.

It is the end of an era as James Packer announces he is stepping down from the board of PBL Media.

Mr Packer’s company Consolidated Media Holdings has refused requests from his joint venture partner to inject $75 million into the debt-laden company.

Mr Packer is stepping down from the board of PBL Media immediately, along with ConsMedia executive chairman John Alexander, Chris Anderson and Martin Dalgleish.

“CMH no longer has any board representatives on the boards of the PBL Media group,” ConsMin said.

His father Kerry Packer was the man who made Channel Nine, and loved it with a passion. Kerry was a television animal, though his father Frank Packer was considered a newspaper man. Many view James Packer as more interested in online and gambling interests.

PBL Media recently appointed a new chairman in UK business Tim Parker, who took over from CVC Asia Pacific’s Adrian MacKenzie. PBL’s huge debts has seen one of its companies, Channel Nine, cut costs in production and staffing.

Source: Daily Telegraph, The Australian

10 Responses

  1. If James hadn’t spent all of 9’s money on his gambling and other ventures it wouldn’t be in so much financial difficulty.

    I’m glad he’s gone, hopefully to be replaced by someone who cares about their viewers.

  2. In reply to Alex…

    Well, Nine probably wouldn’t be better off on their own – the debt is a consequence of Nine not being profitable.

    ACP, Ninemsn etc… They provide diversified income, its essential when you’re dealing with a dying medium such as FTA TV.

  3. James just has no interest in TV, Kerry loved it. Nine will come back but it needs owners who understand TV and the viewer and they need to freshen it up, there’s a lot of dead wood at Nine and compared to seven they look jurasic as a network.

  4. Wouldn’t Nine work better if it was just one company in itself and not owned by other companies who are debt ridden and don’t understand TV??

    9 would have a much easier ride getting back to number one if its people weren’t squished by CVC and PBL inflicting budget cuts upon them that are needed to produce quality TV.

  5. if he is anything like his dad he is probably a great guy, just doesn’t have the same touch when it comes to television.

    does anyone know how much say he has in what shows come/go from the network?

  6. Will Nine become another CanWest type project (just worry about bottom line)

    Or do new owners care about viewers ?

    Should be interesting to see whether “Fat Cat” or warehousing of talent happens at Nine. Some of the “so called talent'” might get rude shock when contracts expire.

  7. didn’t think this would ever happen. especially with the whole packer family legacy thing.

    i have never gotten too involved with tv politics but it seems ch9 have been on a steep downhill ever since james stepped it. Maybe this is a change for the better.

    maybe things are looking up for 9 now

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