Feeds

CEO of Aussie Microsoft JV exits ahead of A$5bn float

Bean-counter wanted?

Intelligent flash storage arrays

The head of ninemsn, the JV between Microsoft and Nine Entertainment Co, Joe Pollard has abruptly left the company as Nine prepares for a strongly mooted A$5 billion float.

Pollard, who has a marketing background, was appointed CEO to the online venture in 2008 amid a flurry of executive departures and staff retrenchments. ninemsn claims a daily audience of around 1.8 million internet users.

"It has been an amazing three years at ninemsn and five years within the group," she said adding that it was "time to move onto the next chapter of my life."

The sudden departure was described by Nine Entertainment CEO David Gyngell as 'disappointing" and comes at a time when the media giant readies for a much anticipated float.

While confirmation of the IPO’s timing has yet to be confirmed analysts have suggested in would take place in Q4 of 2011.

Sources suggest that her departure signals that the float may be imminent as the board looks to appoint a CEO with more financial market experience.

Nine Entertainment Co owners CVC Asia Pacific have been itching to get a return on their hefty investment in the media group, which they executed in 2008 to bail out the debt laden PBL, then 50 per cent owned by James Packer’s Consolidated Media Holdings.

PBL rebranded to Nine Entertainment Co in December and its assets include the Nine Network and affiliate stations, ACP Magazines, the 50 per cent shareholding in ninemsn, Ticketek, Cudo and several digital businesses and a share of Australian News Channel, the parent company of Sky News.

No immediate replacement has been named for Pollard and the ninemsn board will meet this week to determine the process for finding a replacement. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
Protecting against web application threats using SSL
SSL encryption can protect server‐to‐server communications, client devices, cloud resources, and other endpoints in order to help prevent the risk of data loss and losing customer trust.