A statement by Consolidated Media, which owns 25 per cent of PBL Media, said that chairman John Alexander would also stand down from the board of the media unit, which owns free-to-air TV operation Nine Network and ACP Magazines. Both moves take immediate effect and mean that Consolidated Media will not have any board representation at PBL Media. Consolidated Media shares had lost 2.48 per cent to AUD 1.97 late this morning, as the benchmark S&P/ASX 200 Index shed 1.14 per cent.