Media exec Sloan eyes Australia's Nine Entertainment: source

(Reuters) - U.S. media executive Harry Sloan has approached private equity firm CVC Capital Partners to buy a controlling stake in its asset, Australia's debt-ridden Nine Entertainment, a source with direct knowledge of the matter said.

Sloan has put in a "low ball" indicative offer for the stake but has not heard back formally from CVC, said the source, who declined to be named as talks are confidential. The source added the approach was very preliminary and may not materialize into an offer.

The Australian Financial Review (AFR), which first reported the approach, said on Thursday Sloan was pushing to value Nine at A$3 billion ($2.9 billion), a price CVC does not consider to be fair for a media conglomerate that has free-to-air TV stations, magazines and digital businesses in Australia.

Sloan, a former chairman of Hollywood studio Metro-Goldwyn-Mayer , was in Sydney earlier this month to talk with CVC on a deal, the AFR said, citing banking sources.

The purchase is being targeted through Global Eagle Acquisition Corp , a special purpose acquisition company Sloan created last year. Merrill Lynch is advising Sloan.

CVC declined to comment on the story when contacted by Reuters. A Merrill Lynch spokeswoman in Sydney could not be reached for comment immediately.

Nine has A$2.7 billion of senior debt due in February 2013 and CVC is looking to restructure Nine to help reduce the debt and keep at bay hedge funds that want to wrest control.

Credit Suisse , Goldman Sachs and Macquarie Capital are advising CVC on the restructuring.

CVC is also planning to sell Nine's Ticketek, Australia's largest sports and entertainment ticketing agency, a source said in April.

(Reporting by Maggie Lu Yueyang & Narayanan Somasundaram; Editing by Muralikumar Anantharaman)

NYSE pitches listing to Facebook after IPO mess: source

SAN FRANCISCO (Reuters) - Facebook Inc is considering a stock-listing proposal put forward by the New York Stock Exchange, a source familiar with the situation told Reuters, in the wake of a disappointing initial public offering last week on the rival Nasdaq bourse.

Facebook has exchanged phone calls and emails with NYSE Euronext and are considering their pitch, the source said without elaborating on specifics.

The exact details of the NYSE's pitch to Facebook could not immediately be learned. Bloomberg cited a source as saying the proposal involved Facebook switching its listing from the Nasdaq. But NYSE Euronext said it had held no such discussions with the company.

"There have been no discussions with Facebook regarding switching their listing in light of the events of the last week, nor do we think a discussion along those lines would be appropriate at this time," the U.S. exchange said in a statement.

Facebook and the banks that took it public, including Morgan Stanley , face questions over a $16 billion IPO that culminated in a Nasdaq debut plagued by technical glitches. The debut, on May 18, was pushed back half an hour and later led to delays in order confirmations, frustrating traders.

Facebook's shares have fallen more than 15 percent from their $38 IPO price to a close of $32 on Wednesday.

Tensions have arisen between Facebook and the Nasdaq - the preferred home for most technology companies - since the troubled Friday opening.

Analysts say the NYSE could take advantage of the botched coming-out party as it battles the tech-laden Nasdaq for high-profile IPOs.

Still, switching exchanges so soon after an IPO would be highly unusual, said Morningstar analyst Gaston Ceron. He noted that only a very small number of companies every year switch the exchanges that they are listed on.

"It would sound like a very unusual development if they were to switch so quickly, but then again this is an unusual IPO," said Ceron.

On Wednesday, shareholders filed a lawsuit against the No. 1 social network and its lead adviser, accusing them of hiding the company's weakened growth forecasts ahead of the IPO, which rivals General Motors as the second-largest U.S. debut.

A Facebook spokesman declined to comment. Nasdaq representatives were not immediately available.

(Reporting By Alexei Oreskovic; Additional reporting by John McCrank; Editing by Gary Hill, Tim Dobbyn and Richard Chang)