Tim Parker is a man with a reputation for union busting, rampant sackings and costcutting. But for debt riddled PBL Media, it must all seem like good business sense to appoint him as their independent chairman.
PBL Media owns Channel Nine, Australian Consolidated Press, Ticketek and has a share in the NineMSN website. The debt vortex began in 2006 when PBL borrowed $4 million to buy into Ninemsn and ACP. An investment which was extended to include magazine group, EMAP; Ticketek and Acer Arena.
Parker is said to be worth $75 million, with stints as the chief at shoemaker Clarks, Britain's Automobile Association; and deputy major of London, under Boris Johnson, before suddenly leaving last month. As head of the Automobile Assoc, he shed half of their 7,000 staff.
Watch this space...
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