Harry Sloan Reportedly in Talks to Buy Nine

SYDNEY: According to reports, former MGM chairman Harry Sloan has approached the private equity firms CVC Capital Partners and Goldman Sachs to buy a controlling stake in Australia’s Nine Entertainment.

Sloan was reportedly in Sydney earlier this month to start negotiations with CVC and Goldman Sachs, which are sorting through their options as Nine moves closer to its February 2013 deadline to repay $2.8 billion in senior debt the company owes to banks and hedge funds.

The Australian Financial Review, which first reported the talks, values Nine at $3 billion.