Reports Nine Network in talks to buy youth-focussed Pedestrian TV for $10m
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.
Good for Pedestrian. I met with Chris about a year ago – great guy and I hope this comes off for them.
Maybe Will Colvin can write for them?
Good for Chris and Oscar – excellent people and they’ve built a great business. Hopefully this doesn’t mark the gradual decline of it as so many of these type of acquisitions do…
Saw Chris present at Storyology a few years back. What a star.
Here’s a piece of gratuitous advice Chris, dont do it.
What was evident at Storyology – and at every “future of media” event before and since, is that the old guard of dinosaurs havent got a clue – why Newscorpse is even handing out free tablets (to go with the KoolAid)….
You’re young and you’ve got a hot product – keep it under your own control and watch the old media just die off around you….. my 2c worth.
I’m really hoping this is an April Fools…
@Kane, must be! Pedestrian are laughing all the way to the bank.
Mi9 are more stupid than first thought.