The former Channel Nine supremo - who cut his final ties with the free-to-air TV station in 2008 - snapped up the shares through his company Consolidated Press International Holdings.
James Packer buys stake in Paramount tvtonight.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tvtonight.com.au Daily Mail and Mail on Sunday newspapers.