Debt-riddled Australian media company Nine Entertainment Co had gotten another potential bidder, this time for a A$3 billion ($3.1 billion) buyout by one of the world's largest private equity groups, TPG.

A report by the Australian Financial Review, without attributing sources, said TPG had partnered with Hollywood kingpin Harry Sloan for the matter. Nine Entertainment Co is owned by CVC Capital Partners CVC.UL. Mr Sloan owns Global Eagle Acquisition Corporation.

Mr Sloan, a former chairman of Hollywood studio Metro-Goldwyn-Mayer, met in May with CVC Capital Partners CVC.UL. officials, offering a proposal enough to pay back Nine Entertainment Co's lenders at the same time giving Global Eagle Acquisition Corporation a controlling stake in the refinanced Australian media company.

Ben Gray, TPG's managing partner, reportedly was in Sydney earlier this week to meet with David Gyngell, chief executive of Nine Entertainment Co as well as its other senior management officials.

CVC Capital Partners CVC.UL. is currently working to reorganise Nine Entertainment Co to write off the latter's A$2.7 billion of senior debt owed to banks and hedge funds that is due in February 2013.

CVC Capital Partners CVC.UL. bought Nine Entertainment Co from Australian billionaire James Packer for A$5.3 billion in cash and debt between 2006 and 2008. The media conglomerate has free-to-air TV stations, magazines and digital businesses in Australia.