Consolidated Media Holdings
An Australian investment company whose principal interests included subscription television and sports-media businesses.
Last updated August 26, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Consolidated Media Holdings (CMH) was an Australian publicly listed investment company focused primarily on subscription television and related media assets. It was created in November 2007 through a name change and corporate restructuring involving Publishing & Broadcasting Limited (PBL) and the separation of PBL's media and Crown-related interests. The restructuring left CMH as an investment vehicle with significant exposure to Australian pay television, sports broadcasting and other media holdings. CMH's most important asset was a 25 percent interest in Foxtel, the Australian subscription-television platform. This stake was held jointly with News Corporation, while Telstra owned the remaining 50 percent. CMH also held a 50 percent interest in a group of sports and specialty television channels, including Fox Sports, Fox Sports News, Fox Footy, Speed and Fuel TV; News Corporation held the other half of that business. These investments gave CMH a substantial position in Australia's subscription-TV and sports-content ecosystem without operating a standalone consumer television brand of its own. The company initially retained a major interest in PBL Media, the media group that included assets such as the Nine Network, NBN Television, Sky News Australia, Australian Consolidated Press, NineMSN, Carsales, Ticketek and the Sydney Super Dome. CMH progressively reduced this exposure. In September 2007 it sold a further 25 percent of its interest in PBL Media to CVC Capital Partners. In December 2008, CVC injected more than A$300 million into PBL Media as part of a refinancing and recapitalisation. CMH chose not to contribute additional funds, causing its interest to be diluted to less than 1 percent. CMH's ownership structure changed during the global financial crisis and the subsequent consolidation of Australian media assets. The Packer family's Consolidated Press Holdings remained a major shareholder, while the Seven Network, later associated with Seven Group Holdings, acquired a substantial position. Seven bought an initial A$100 million stake in July 2008 and increased its holding during July 2009 to approximately 19.5 percent. Consolidated Press Holdings also increased its interest, reaching approximately 40 percent in the period described in the company's investor history and holding 50 percent by June 2012. In 2009, CMH sold the Sydney property at 54 Park Street, historically associated with the Packer family's headquarters, to AMP Capital Investors. It also sold its remaining shareholdings in Seek to institutional investors. These transactions reflected a broader effort to simplify the portfolio and concentrate on core media investments. In 2012, News Corporation and Seven Group Holdings each submitted proposals to acquire CMH. The Australian Competition and Consumer Commission approved News Corporation's proposal but opposed the competing Seven Group Holdings bid. News Corporation's offer was subsequently approved by shareholders and the Federal Court. The acquisition took effect on 2 November 2012, ending CMH's existence as an independent listed company and ending the Packer family's control of a large listed media group through this corporate vehicle.
History
Consolidated Media Holdings was established in November 2007 as the successor corporate vehicle to Publishing & Broadcasting Limited following a series of schemes of arrangement involving PBL and Crown interests. The restructuring separated the relevant media investment activities into a new publicly listed company. Although CMH was not a conventional operating broadcaster, its portfolio placed it at the centre of Australia's pay-television and sports-media industries. The company's principal asset was a 25 percent holding in Foxtel. News Corporation held the other 25 percent of the joint venture and Telstra owned the remaining half. Through this interest, CMH participated in Australia's largest subscription-television platform. CMH also owned half of a sports and specialty-channel group comprising Fox Sports, Fox Sports News, Fox Footy, Speed and Fuel TV. News Corporation held the other 50 percent of that group. These investments provided CMH with exposure to recurring subscription revenue, premium sports rights and specialist television programming. At formation, CMH also retained a 50 percent interest in PBL Media. PBL Media's portfolio included the Nine Network, NBN Television, Sky News Australia, Australian Consolidated Press, NineMSN, Carsales, Ticketek and the Sydney Super Dome. CMH reduced this holding in September 2007 by selling an additional 25 percent to CVC Capital Partners. The remaining interest was later heavily diluted. In December 2008, CVC Asia Pacific refinanced PBL Media's debt facilities and injected more than A$300 million into the company. CMH announced that it would not invest additional funds, with the result that its holding fell from a significant stake to less than 1 percent. CMH's shareholder base evolved as it managed its portfolio. The company was originally associated with the Packer family through Consolidated Press Holdings. In July 2008, the Seven Network acquired approximately 4.82 percent of CMH for A$100 million. Seven expanded its stake during July 2009, ultimately reaching approximately 19.5 percent. Consolidated Press Holdings also increased its position, and the two groups became CMH's dominant shareholders. By June 2012, published ownership information identified Consolidated Press Holdings as holding 50 percent and Seven Group Holdings as holding 25 percent. The company also pursued portfolio rationalisation. In August 2009 it announced the sale of 54 Park Street in Sydney, a property long associated with the Packer family's corporate headquarters, to AMP Capital Investors. CMH also sold its holdings in Seek to institutional investors. These disposals reduced non-core exposure while leaving the company primarily dependent on its Foxtel and sports-media investments. CMH became the subject of competing takeover proposals in 2012. News Corporation submitted a bid, as did Seven Group Holdings. The Australian Competition and Consumer Commission cleared News Corporation's proposal but did not approve the Seven Group Holdings alternative. News Corporation's transaction was subsequently approved by CMH shareholders and the Federal Court. It became effective on 2 November 2012. The takeover brought CMH's life as an independent listed company to an end and removed the Packer family's remaining control of a major media investment company through this structure.
- 2012
Acquisition by News Corporation
[1]News Corporation's takeover was approved by regulators, shareholders and the Federal Court, and became effective on 2 November.
- 2009
Portfolio disposals and ownership changes
[1]CMH sold its Park Street property and Seek holdings, while Seven and Consolidated Press Holdings increased their stakes in the company.
- 2008
Seven Network becomes a CMH shareholder
[1]Seven Network bought approximately 4.82 percent of CMH for A$100 million.
- 2008
PBL Media recapitalisation dilutes CMH
[1]Following CVC's debt refinancing and capital injection, CMH's PBL Media interest fell below one percent because it did not contribute further funds.
- 2007
Creation of Consolidated Media Holdings
[1]Publishing & Broadcasting Limited changed its name and completed related corporate schemes, forming CMH as a listed Australian media investment company.
- 2007
Further sale of PBL Media interest
[1]CMH sold a further 25 percent of PBL Media to CVC Capital Partners.
Products and positioning
A listed Australian media investment vehicle concentrated on pay television, sports broadcasting and strategic equity interests rather than a direct-to-consumer consumer brand.
Subscription television
Foxtel
CMH held a 25 percent interest in Foxtel, an Australian subscription-television platform. The investment gave CMH exposure to pay-TV distribution and premium entertainment and sports programming. News Corporation held another 25 percent and Telstra owned the remaining 50 percent.
Sports and specialty television
Fox Sports channel group
CMH held 50 percent of a group of sports and specialty channels that included Fox Sports, Fox Sports News, Fox Footy, Speed and Fuel TV. The business complemented CMH's Foxtel interest by providing exposure to sports broadcasting, specialist programming and subscription-channel economics.
Media investment
PBL Media
CMH previously held a 50 percent interest in PBL Media, whose assets included the Nine Network, NBN Television, Sky News Australia, Australian Consolidated Press, NineMSN, Carsales, Ticketek and the Sydney Super Dome. CMH sold down its interest and was diluted to below one percent after a later recapitalisation.
Brand decisions
2012
Accept News Corporation takeoverM&ABackground
News Corporation and Seven Group Holdings submitted competing proposals to acquire CMH.
Action taken
The News Corporation transaction proceeded after regulatory, shareholder and Federal Court approvals.
Aftermath
The acquisition became effective on 2 November 2012 and ended CMH's existence as an independent listed company.
- Seven Group Holdings — Seven Group Holdings submitted a competing takeover proposal, but the Australian Competition and Consumer Commission did not approve it.
2009
Rationalise non-core assetsStrategyBackground
CMH was simplifying its investment portfolio while retaining its principal subscription-television and sports-media interests.
Action taken
The company announced the sale of 54 Park Street in Sydney and its remaining Seek shareholdings.
Aftermath
The disposals reduced CMH's exposure to property and non-core equity holdings.
2008
Do not participate in PBL Media recapitalisationStrategyBackground
CVC Asia Pacific refinanced PBL Media's debt facilities and injected more than A$300 million into the company.
Action taken
CMH stated that it would not invest additional funds in PBL Media.
Aftermath
CMH's interest was diluted from approximately 25 percent to less than one percent.
CVC capital injection into PBL Media. More than A$300 million injected (December 2008)
2007
Reduce exposure to PBL MediaStrategyBackground
CMH was reorganised as a media investment company while PBL Media was being repositioned under external private-equity ownership.
Action taken
CMH sold a further 25 percent of PBL Media to CVC Capital Partners.
Aftermath
CMH retained important pay-TV and sports-media investments but reduced its direct ownership of PBL Media's broadcast and publishing assets.
Sources1 sources
Cite this profile: Cite the canonical profile. /brand-wiki/consolidated-media-holdings · Editorial policy · How profiles are compiled