Nine looks to acquire CarAdvice with offer to shareholders

Nine is looking to acquire a majority stake in CarAdvice after making an offer to shareholders to purchase a portion of its holdings in the company.


Coupled with a minor equity injection, Nine Entertainment Co., intends to hold a majority stake in CarAdvice with a path for NEC to have 100% ownership within three years.

Alex Parsons, chief digital and marketing officer of NEC, said in a statement: “CarAdvice creates an exciting opportunity for Nine to deepen its exposure to the automotive category. Automotive is the single largest ad category for both TV and digital, with ongoing migration online.

“This is a great example of us targeting verticals which we believe we can build and ultimately own through the cross-promotional capabilities of our TV and digital platforms.”

Andrew Beecher, CEO and managing director of CarAdvice, said in a statement: “I am excited about welcoming NEC as a majority shareholder in CarAdvice.

“Nine’s proven ability to build brands and audiences, through both its television and digital properties, will provide a unique and significant opportunity for the business and our automotive advertisers. CarAdvice currently develops an enormous amount of proprietary content – this partnership with Nine will help us to distribute and commercialise that content more effectively.”

The announcement comes as News Corp sold off its 50% stake in rival Carsguide to US-based Cox Automotive last month.


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