Nine secures Microsoft's share in Mi9
The Nine Network has confirmed that it’s to take over the reins of Mi9.
Nine CEO David Gyngell confirmed to this morning that the network would buy Microsoft’s 50% share in Mi9.
Gyngell (pictured) stated that from 1 November, Nine would take control of Mi9.
The agreement will see Mi9 continue to provide market leading digital solutions to Australian consumers and advertisers.
As part of the deal Microsoft has penned a long-term partnership agreement whereby Mi9 will continue to represent Microsoft's suite of advertising products,
"This agreement allows NEC to retain the key elements of our almost two decade strategic partnership with Microsoft. It strengthens the platform for NEC’s growing digital video business and ultimately allows us to control 100 percent of our digital future," said Gyngell.
Previously a 50-50 joint venture between Nine and Microsoft, Mi9’s stable includes ninemsn.com.au and ninenews.com.au.
Gyngell confirmed that Mark Britt will continue as CEO of Mi9.
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