The Australian Financial Review is reporting that Nine is in talks to buy the other half of digital venture Mi9 from Microsoft ahead of its public offering.
Nine already owns 50% of the company, which makes money from display ads on the Ninemsn website.
It was established as a joint venture between Nine’s old owner Publishing and Broadcasting Ltd and Microsoft in 1997. Both companies contributed $25 million.
Sources told the Fin Mi9 had earnings before interest tax, depreciation and amortisation of between $25 million and $30 million in the 2013 financial year, which would make Microsoft’s stake worth around $100 million.
There’s more here.
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