The joint venture, with the agreement signed by Gates and Packer in June 1997, was established with a combined investment of $50 million, which brought together all the online assets of Microsoft and all the media assets of PBL, including the Nine Network, Australian Consolidated Press (ACP) and other PBL assets.
Four months after the deal was done by Gates and Packer - cementing the partnership between the IT industry giant, Microsoft, and what was then Australia's top rating TV network and PBL's ACP, the biggest publisher of magazines in the country - in September 1997, the first ninemsn test homepage went live.
And, at the time, it was a landmark decision by Gates and Packer to put the new venture, NineMsN, on the Internet, with the “first-of-its kind joint venture” bringing together the Microsoft's expertise and the media expertise of Consolidated Press.
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