Plus, Ten would have pretty good commentary teams if they still had enough sporting rights to justify hiring them. So many of Ten’s best are now at Fox - that’s not a positive for Fox, it’s just another reflection of the amount of talent Ten has lost over the years with how it has been managed.
Or in other words, this:
Cross media ownership laws just scrapped…
Murdoch will have his sights on TEN again.
…fuck.
Surly this won’t change the court dealings that are taking place? As they are dealing with a deal that was done before this was changed.
It now looks like Murdoc and Co knew it would pass this week, therefore having the court case gives them another avenue to go down?
Sucked in for badly timing the forced receivership then. 
Now I just have Maxwell Smart in my head “Missed by that much”.
Arguments concluded last night with Justice Black to deliver his decision on Monday:
http://www.theaustralian.com.au/business/media/creditors-unaware-of-value-of-rival-ten-network-offer-court-told/news-story/0702fa96e698b96310561a273e2a363f
So canI anyone explain to me the implications of today’s media reforms on CBS’ bid?
And how likely are CBS to win this court case thingo?
Not much…makes one of the Murdoch/Gordon proposals easier to process but there’s still nothing preventing the creditors going for the CBS bid.
They’re looking good from my laymans perspective. But then again I’m no expert and the judge is going to have to find that KordaMentha didn’t follow due process when only recommending the CBS bid to creditors. We will find out Monday.
It removes one or two of the items that CBS’ bid was superior on, but leaves all the others, which are enough to still justify the decision to go with that bid.
If somehow the court finds for Murdoch and Gordon…they could theoretically put a new bid to creditors. CBS would also be struck off from voting as they are a competing bid. That’s the argument being put to court. That would leave the 750 employees as largest creditor. So then they would vote on the competing bids. Surely they wouldn’t vote for Murdoch??
That is a real scenario in all of this.
Fox would actually be the largest creditor by dollar value since they’re claiming nearly $200 million.
For the 750 employees, they are represented by 3 representatives at the creditors meetings. I would therefore guess that these 3 representatives are responsible for voting on behalf of all staff.
What could happen.
Aren’t Fox an unsecured creditor. The SMH article said the Staff are the largest creditors after CBS.
Bruce Gordon, Lachlan Murdoch to lob new bid for Network Ten
Bruce Gordon and Lachlan Murdoch are understood to be lobbing a new bid for Network Ten following the passage of the government’s media ownership changes through the Senate on Thursday night.
A new bid from Birketu and Illyria, the private investment vehicles of Mr Gordon and Mr Murdoch respectively, is believed to be higher than the original proposal the pair put in for Ten.
The bid is expected to be lodged with administrator KordaMentha as early as Friday.
The bid does not have the same conditionality as the first bid to due to passage of the government’s media reforms through the Senate.
If the administrators accept the bid as valid, will CBS then have an opportunity to vary their bid, I wonder?
How does that even work? They’ve seen the CBS bid. How is that fair or equitable? Surely CBS will have the right to a counter offer.
The two c–ts are crazy. Poor employees of Ten having people bid who are just going to sack half of them.
20 C Fox seem like a key player to me. If CBS offered them more for the debt/output deal will they drop their objections and get on board with the CBS take over?
News Corp pays next to no tax in Australia, and Lachlan Murdoch & Bruce Gordon are Australian citizens for convenience because their hearts are elsewhere. Darren Davidson:
Lachlan Murdoch is executive chairman there.