Nine Entertainment Co (NEC) has announced that it is buying out Microsoft’s 50 percent shareholding in Mi9 (ninemsn Pty Ltd), ahead of an expected float of NEC on the Australian Securities Exchange in December.
Making the announcement, Nine Entertainment CEO, David Gyngell, said in a statement: “From 1 November, NEC will take control of Mi9. This agreement will see Mi9 continue to provide market leading digital solutions to Australian consumers and advertisers,” he said.
