CVC Asia Pacific is seeking an estimated $300 million to invest in PBL Media after James Packer's Consolidated Media Holdings refused to inject $75 million into the media company. Mr Packer and Consolidated Media chairman John Alexander have also resigned as directors of PBL, ending 50 years of Packer-family involvement with Consolidated Media-owned broadcaster Nine Network. The further injection of funds by CVC Asia Pacific will see Consolidated Media's stake in PBL fall to 10 percent or less.
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Network Nine Australia
James Packer
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