Aussie TV Co. Buys Out Microsoft's Shares In Digital Media JV

Law360, New York (October 15, 2013, 3:40 PM EDT) -- Australian television network Nine Entertainment Co. has agreed to buy for an undisclosed sum all shares of Mi9, its digital media joint venture with Microsoft, the company announced Tuesday.

Nine Entertainment is planning an initial public offering and hopes to wrap up the deal before then, by Nov. 1, according to the company. The joint venture has been around since 1997, and Nine will continue being Microsoft's media partner in Australia, carrying an array of Microsoft advertisements on its network.

“This agreement allows NEC to retain...
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