Microsoft today announced that they are selling their 50% stake in Ninemsn online venture which was formed back in 1997. As part of the agreement, Nine’s new venture Mi9 will continue to maintain the ninemsn site and whereby Mi9 will continue to represent Microsoft’s suite of advertising products on ninemsn. This is not a surprise move from Microsoft given that they are looking to offload media assets like MSN around the world. Last year in the US, Microsoft ended similar partnership with NBC for MSNBC website. Read full press release below. Sydney, Australia: Nine Entertainment Co (NEC) CEO David Gyngell today announced that terms had been agreed with Microsoft to acquire its 50% share of Mi9 (ninemsn Pty Ltd). “From 1 November, NEC will take control of Mi9. This agreement will see Mi9 continue to provide market leading digital solutions to Australian consumers and advertisers,” he said. As part of ...

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