PBL, run by Australia’s richest man, James Packer has split into two separate companies -gaming and media. The gaming company, called Crown will house the Crown Casino, Burwood Casino and PBL’s 41.4% in Melco PBL Entertainment Ltd. Consolidated Media Holdings is the name of the media company, which will host: Channel 9, ACP Magazines, Ticketek and the internet businesses. Each business will be run seperately with its own board.

Insiders suggested that James Packer is trying to disengage from the media side of the business to concentrate on the gaming interests.