Nine Entertainment preparing Fairfax Media events business for sale

Nine Entertainment has appointed Alex Parsons acting managing director of events and entertainment to manage the process of divesting Nine’s events business.

Nine acquired the Fairfax Events & Entertainment events business after the merger of the two companies at the end of 2018.

Parsons is a former chief digital officer for Nine, stepping down from the post at the end of 2017. He spent most of 2018 as CEO and managing director of Adcorp, stepping down from that post late in the year.

“I am really excited to return to Nine,” said Parsons. “The events division is a strong and vibrant business that will be enhanced by the sale to a buyer who can realise its full value, and I am looking forward to positioning it for further growth and expansion. Nine will continue to have a strategic commercial partnership through our ongoing events such as The Sun-Herald City2Surf and the Good Food Month.”

Martin Jolly, the current managing director of Nine events and entertainment, is stepping out of the business at this time to enable him to join with other parties who could bid for the business in the future.

“We would like to thank Martin for the hard work and commitment he has shown to the business and we wish him all the best in his future endeavours,” said Chris Janz, Nine’s managing director – publishing.

Nine will divest a number of the former Fairfax Media divisions.

The AFR has reported nine parties have expressed an interest in the former Fairfax Media events business. They include IMG, Saxton – which counts former APN News & Media chief executive Brett Chenoweth and former PBL Media financier Charbel Nader as investors – and Denver-based Motiv.