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Reports Nine Network in talks to buy youth-focussed Pedestrian TV for $10m

Pedestrian TV Nine Entertainment is in talks to buy youth online brand Pedestrian TV, with figures as high as $10m being floated for the 10-year-old business.

It is understood that the two parties are in talks but at this stage nothing has been signed.

Nine has declined to comment on the deal but the Australian Financial Review today reports Nine’s digital division Mi9, is tipped to pay $10m for a controlling stake in the online operation, founded by Oscar Martin and Chris Wirasinha in 2005.

Comment is also being sought from Pedestrian TV.

Pedestrian TV targets an audience of 16 to 35 year-olds and claims over 200,000 subscribers to its EDM and social channels.

Were Nine to buy the youth focussed operation it would joint its other online ventures Ninemsn and the Daily Mail Australia.

As a youth orientated brand it competes with the like of South Alliance’s Junkee and US viral content site Buzzfeed, which launched in Australia last year. 

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