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Kerry Packer: Alan Bond
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Packer was regarded as among the shrewdest businessmen in Australia. One of his most remarkable deals occurred when he sold the Sydney and Melbourne stations in his Nine television network to Australian entrepreneur Alan Bond in 1987 for A$855 million and $200 million in Bond Media shares. When Bond's fortunes tumbled in 1990, Packer bought back the two stations and two more that Bond owned for just A$200 million ($150 million).
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Kerry himself was just as shrewd an operator. In the Eighties, he sold two Channel 9 stations to businessman Alan Bond for AUS $1 billion. When Bond found himself in deep financial trouble three years later,Packer reacquired the business for a quarter of what he hadsold it forthree years previously.
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Howard said the cliches "great Australian" and "larger than life character" were appropriate descriptions of Packer. He paid tribute to the media proprietor's business acumen, citing Packer's sale of the Nine network to Alan Bond in the 1980s. Packer subsequently bought Nine back at a fraction of the price. Bond went broke. Packer famously said "an Alan Bond only comes along once in life".
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Close friend Alan Jones was MC at the memorial service, which featured speeches from son and heir James, Russell Crowe on behalf of daughter Gretel Packer, Prime Minister John Howard and Richie Benaud. Attendees included Tom Cruise (a friend of James Packer) and his partner Katie Holmes, Greg Norman, members of the Australian cricket team, and past and present figures from both sides of politics.
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