
Court clears way for CBS takeover of Ten
US media giant CBS’s $41 million takeover of the Ten Network is set to proceed, with a court approving the transfer of all shares in the local network to the American company.
US media giant CBS’s $41 million takeover of the Ten Network is set to proceed, with a court approving the transfer of all shares in the local network to the American company.
UPDATED | Ten Network creditors have voted to accept CBS’s bid for the embattled broadcaster, rejecting a rival proposal from Bruce Gordon and Lachlan Murdoch.
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Nick Xenophon says he’s seen “no suggestion” a proposed takeover bid of Network Ten by media magnates Lachlan Murdoch and Bruce Gordon would see its South Australian newsroom shut down, as Labor today claimed Adelaide would become a “one media voice town” if the SA senator gets his way.
A last-minute legal challenge by media mogul Bruce Gordon over rival US media giant CBS’s attempt to take control of the embattled Network Ten has bought him an extra week before the next creditors meeting.
Disgruntled Ten shareholders are considering a class action against the troubled network as they face receiving no compensation for their stock under the takeover proposed by US media giant CBS.
Look who just rode in to take Network Ten from under the expectant noses of Lachlan Murdoch and Bruce Gordon.