Consolidated Media Holdings
| Company type | Public |
|---|---|
| Industry | Investment, Media |
| Predecessor | Publishing & Broadcasting Limited (rebranded) |
| Founded | November 2007 |
| Headquarters | Sydney , Australia |
Area served | Australia |
| Products | Subscription television services, media investments |
| Owner | Consolidated Press Holdings (50%), Seven Group Holdings (25%) |
Consolidated Media Holdings (CMH) was an Australian investment company publicly traded, primarily engaged in subscription television services.
History
Established in November 2007, CMH emerged after Publishing & Broadcasting Limited (PBL) underwent a rebranding and associated Schemes of Arrangement. The principal shareholders included Consolidated Press Holdings alongside Seven Group Holdings.
CMH possessed a 25% ownership in Foxtel, shared with News Corp, while Telstra controlled the remaining half. Additionally, it owned half of Fox Sports Australia, which encompassed channels such as Speed, Fox Footy, Fox Sports News, and Fuel TV; the other 50% was held by News Corp.
At an earlier stage, CMH had a 50% stake in PBL Media, which managed assets like the Nine Network, NBN Television, Sky News Australia, Australian Consolidated Press, NineMSN, Carsales, Ticketek, and the Sydney Super Dome. In September 2007, CMH divested 25% of its PBL Media interest to CVC Capital Partners. After CVC’s $300 million capital contribution in December 2008, CMH’s shareholding dropped below 1%.
Investor history
Initially under the control of the Packer family, CMH attracted substantial investment from Seven Network beginning in July 2008 with a $100 million acquisition representing 4.82%. By mid-2009, Seven had expanded its ownership to close to 20%, while Consolidated Press Holdings increased its portion to approximately 40%.
In August 2009, CMH disposed of its longstanding headquarters at 54 Park Street, Sydney to AMP Capital Investors and sold all its interests in Seek Limited to institutional buyers.
In 2012, takeover offers for CMH were made by both News Corp and Seven Group Holdings. The Australian Competition & Consumer Commission approved News Corp’s proposal but rejected Seven Group’s bid. The acquisition by News Corp received approval from shareholders and the Federal Court of Australia, finalizing on 2 November 2012 and ending the Packer family’s control over key media assets.
As of June 2012, the leading shareholders of CMH were Consolidated Press Holdings holding half the shares (50%) and Seven Group Holdings owning one quarter (25%).
Assets
Consolidated Media Holdings maintained substantial investments in:
- Foxtel (25%)
- Fox Sports (50%)