Media assets are attracting attention these days and the spotlight is trained at this time to David Gyngell, who was tasked to take the helm at PBL Media, once a territory of James Packer who now toys with the idea of heading Channel Ten, if analysts were to be believed.

Analysts said that Mr Gyngell is expected to see through the successful sale of PBL Media prior to its scheduled debt refinancing of more than $4 billion in 2013, which they affirmed should be easy for a man who steered Nine Network through tough times and led it to recovery.

Also said to be a best buddy of Mr Packer, the new PBL Media boss is also believed to enjoy the graces of CVC boss Adrian McKenzie, effectively the top honcho of the media firm that is now reportedly worth more than $5 billion, giving it the key attraction for an easy sailing in a stock float divestiture if it wishes to.

As of the last financial year, PBL Media garnered an operating profit of up to $410 million and well on its way to book an estimated $575 million by June 2011 as projected by well-placed sources.

Nine Network alone, according to analysts, comprised the chunk of PBL Media's operating profits which run to a total of $3 billion with considerable contributions from a host of other media investments that were regarded as profitable moves by the media firm and all credited to Mr Gyngell's leadership.

He also presided over the Nine's return to the top this year over competitor networks, which experts said should add up more premium for PBL Media once it is put on the market by CVC.

While former chief executive Ian Law's exit from PBL Media still came as a surprise for industry watchers, analysts believed that Mr Gyngell is an able replacement due to his youth and vigour.

In his statement after his departure, Mr Law reasoned that his resignation was based on personal interests and the present requirements of PBL Media, which he said is in a good standing for a leadership transition and poised to achieve record result in the current financial year.

On his part, Mr Gyngell, best-described by industry watchers as the one who understands all parts of the business, appeared to be more than ready for the job as he declared to media that "I am fully dedicated to leading the business through its next phase of growth and development."