News

James Packer bets big on Paramount, Netflix with Crown Casino cash

Nathan Jolly

December 13, 2023 3:41

James Packer’s family made its fortune from the media, and the heir has returned to what he knows best, investing heavily in the fortunes of two major media companies after cashing out his Crown Resorts stake early last year.

Packer netted A$3.3 billion for the sale of his shares in the casino – and has since invested A$122 million in Paramount Global, parent company of Network Ten, as well as a more modest A$30.3 million stake in Netflix.

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Nathan Jolly is the Features Editor at Mumbrella. He joined the team in July, 2023.

Topics

jack packer Netflix Network Ten Paramount

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