Nine Entertainment has invested in Yellow Brick Road, the financial services company founded and chaired by Wizard Home Loans founder Mark Bouris. The $13 million deal has taken place as Nine looks for other areas to invest, other than in traditional media.
The agreement is effectively an advertising partnership, with half of the $13 million to be provided in the form of ads in Nine’s various businesses over five years, and the other half in cash.
Nine will be granted a 19.9 percent stake in Yellow Brick Road, and a board representative under this deal. Yellow Brick Road was established by Bouris in 2007 and has almost 60 shopfronts. It offers financial advice, management, execution and administration services, and related professional services in areas of taxation, accounting, estate planning, insurance and finance broking.
Bouris will remain Yellow Brick Road’s largest shareholder, holding 26.7 percent of the group, from 33.4 percent previously. Senior members of Yellow Brick Road’s management team also hold stakes in the business.
