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Nine Entertainment Completes AU$21 Million Sale of Regional Television Assets

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Nine Entertainment Co. Holdings (ASX:NEC) completed the sale of its regional television assets NBN and Nine Darwin for a total cash consideration of AU$20.5 million, converting them from wholly-owned businesses to affiliates to be owned and operated by WIN Network, according to a Tuesday Australian bourse filing.

Nine will also realize cash tax benefits through the crystallization of around AU$100 million of tax losses associated with these assets.

WIN will broadcast Nine's content across Northern New South Wales and Darwin under a new affiliate agreement, the filing said.

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