The Packer era is over at Channel Nine, with James Packer officially resigning from the board of PBL media.
The Packer family have had a stake in Channel nine for more than fifty years, today that came to an end - with James Packer refusing to invest any more money into PBL Media.
Mr Packer has announced his resignation from the board, withdrawing his Consolidated Media Holdings from any further league with the company.
ConsMedia's Executive Chairman John Alexander has also resigned with immediate effect.
PBL will be left with a massive funding black-hole, with ConsMedia no longer a contributor.