14 DAY TRIAL // Microsoft has decided to sell its 50 percent stake in Mi9, an Australian joint venture formed with local company Nine Entertainment.
While no financial details on the deal have been provided, BRW.com.au is reporting that Nine paid Redmond no less than $39.1 million (€28.8 million) for the 50 percent stake, which now gives it full control over Mi9.
“This agreement strengthens the platform for Nine Entertainment’s growing digital video business and ultimately allows us to control 100 percent of our digital future,” Nine Entertainment CEO David Gyngell was quoted as saying.
Microsoft is yet to release a public statement on this, but more information will most likely be released in the coming days, especially because the company is set to step in front of the media to present its latest products, including Windows 8.1 and Surface 2.