Nine Entertainment's lenders have approved a $3.4 billion plan to recapitalise the company.
The ABC understands the plan for Nine's lenders to switch their debt for a stake in the company was voted on and accepted in Sydney today.
US hedge funds Apollo and Oaktree hold the lion's share of Nine's debt.
The main mezzanine, or secondary, debt holder is Goldman Sachs, while private equity company CVC Asia Pacific is the current owner of the broadcaster.
The details of the vote have not been released.