Apollo sells out of Nine Entertainment

Apollo Group has sold its remaining stake in media group Nine Entertainment to a range of domestic and international investors.

Investment fund group Apollo has sold its remaining shareholding in media group Nine Entertainment.

Nine says Apollo sold its 9.82 per cent stake by way of a fully underwritten block trade, which was distributed to a group of domestic and international institutional investors.

The move comes after Apollo sold a 13 per cent stake in Nine in October to interests associated with Bruce Gordon's regional broadcaster, WIN.