Nine has $2.7 billion of senior debt due in February 2013, which it failed to refinance earlier this year, plus another $975 million of mezzanine debt due the following year, a legacy of CVC's takeover of Nine at the height of the bull market. Its options include refinancing the debt, bringing in new investors and asset sales. Sloan had approached CVC in May with an offer from his vehicle Global Eagle Acquisition Corp to buy a controlling stake in Nine Entertainment, a source had told Reuters. Media reports said at the time that Sloan was pushing to value Nine at $3 billion, which CVC believed was too little for the media conglomerate. Hefty loss? Nine Entertainment, one of the biggest private-equity owned companies in Australia, has assets including the Channel Nine free-to-air television station, ACP Magazines, which publishes the Australian Women's Weekly, ticketing agency Ticketek and Acer Arena.