MarketWatch – U.S. hedge funds owning more than 1 billion Australian dollars (US$1.02 billion) worth of Nine Entertainment Co.’s senior debt are considering a lender bid for the company as it gears up for an auction, the Australian Financial Review reported Friday.
Nine Chairman Peter Bush told the company’s lenders that the debt-laden Australian media company may be put up for sale if an agreement wasn’t reached by early next week, according to the paper.
