CONFIRMED: Nine Signed A Deal To Buy The Rest Of Mi9 Last Night

Photo: Getty/Cameron Spencer

Nine has confirmed earlier media reports that it purchased the rest of digital venture Mi9 from Microsoft.

According to The Fin the deal was signed last night, and announced by the company this morning.

The company makes its money from display ads around content on the ninemsn.com.au website.

It was started a joint venture between Nine’s former owner and Microsoft in 1997, with each of them kicking in $25 million.

Read more about it here.

Now read: The Big Turnaround: Alan Joyce Says Qantas International Can Break Even In 2014-15

Follow Business Insider Australia on Facebook and Twitter

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.