Paramount Australia & New Zealand

[webguy]

@littlegezzybear

On the other hand, CBS can avoid paying a single dollar in corporate tax to Canberra for several years if it succeeds in acquiring 100 per cent of the free-to-air broadcaster, sources said.

As would any other new owner of Ten.

[TV.Cynic]

Lachlan Murdoch, Bruce Gordon lodge new bid for Network Ten

Just hours after media reforms passed the Senate, Lachlan Murdoch and Bruce Gordon have lodged a fresh bid for Network Ten, increasing their offer for creditors of the troubled broadcaster pool from $35 million to $55 million

[Zampakid]

Nine News Australia (9NewsAUS)

[Tane04]

Murdoch and Gordon are both sore losers. i’d rather have Ten under the ownership of CBS than these two dorks.

[Tom_TV7]

Can’t those two morons f**k off and kill their own organisations?

[littlegezzybear]

KordaMentha will consider the Gordoch bid over the weekend, including whether it is legal as it was submitted after the deadline. They will make an announcement after the court’s decision on Monday.

Lachlan Murdoch and Bruce Gordon make new bid for Ten Network

[ando9185]

@littlegezzybear

including whether it is legal as it was submitted after the deadline.

This is the bit which bugs me, they’re too late, yes, the situation has now changed but these things were mentioned in their original bid which wasn’t superior to CBS’s. If they’re allowed to make an amended bid after seeing all that CBS offered then CBS should be allowed to amend there’s also.

[DDN]

CBS have invested too much to pull out now (paying off Ten’s debts) I don’t think Murdoch and Gordon stand a chance… hopefully

[Nick]

@littlegezzybear

Ten would also remained locally owned and operated, sources said, with Gordon and Murdoch committed to increasing Australian content output.

“remained locally owned and operated” and “committed to increasing Australian content output”

“remained locally owned and operated” and “committed to increasing Australian content output”?!

Thank goodness our hopeful Bermudan and American joint owners have a solid plan to close Ten’s news division and replace it with Sky News, and sap the network for everything that it has left.

[dominator]

Just curious, how likely is it that these old farts will own ten?

What court and shareholder decision decisions need to go their way to ensure that they own it as opposed to (obviously better option in) CBS owning the network?

[cmo]

The thing is someone, whoever or whatever is allowing these two fucktards a chance to come in and close down three offices, production that occurs in those studios, sack the entire news division all after the goal posts changed. How is that remotely fair when due process was followed by administrations that they appointed and subsequently a deal being accepted from CBS.

It’s seems clear to us…let’s hope the court does as well.

[Nick]

Not sure if this one has already been posted, but…

Murdoch-Gordon bid for Ten higher, but late and complicated, KordaMentha...

Lachlan Murdoch and Bruce Gordon’s bid for Network Ten was $3 million higher than CBS’, but was too complex and would have seen secondary creditors getting just 2 cents in the dollar, according to an unusual secondary creditors’ report released by KordaMentha on Monday.

[cmo]

This would be devestating for the 750 employees at ten. The network will not be able to compete under these atrocious humans …just vile and unethical behaviour. This could be the greatest swindle in Australian media history. The corruption is astounding and tragic.

Let’s hope that 750 employees as the largest block of creditors vote down this proposal.

Also how can they put a revised bid when they’ve seen the competitors bid in detail? It doesn’t make sense. Can CBS review their bid. I don’t see how any of this is fair.

[cmo]

Back again…
This is the scenario presented to employees:
Vote for CBS …get all your entitlements and keep your job.
Vote for shit cunts… get all your entitlements and lose your job.

Hmmmmm…

[TV-ACT]

As I understand it the winning bid needs approval from both the majority number of creditors (so the employees?) and the majority value ($) of (secured?) creditors (CBS, with Fox being 2nd?), so if somehow those two groups disagreed then the receivers/administrators have a casting vote, which I’d hope would go CBS’ way (given they’ve already evaluated the bids as of the 25th).

[littlegezzybear]

@Nick

Lachlan Murdoch and Bruce Gordon’s bid for Network Ten was $3 million higher than CBS

That is a falsehood being perpetuated by Gordon and Murdoch. Their bid was actually less. They included $7.4 million they would have paid to CBS, however CBS had waived any payments to itself. Gordon and Murdoch tried smoke and mirrors to make it appear otherwise. Explained here:

The Australian lurches from bad to worse on Ten Network

[JBar]

And with the media laws on cross ownership relaxed expect more of this sort of media collusion.

[CLEW9]

I really, really hope that this whole ordeal doesn’t turn tragic.

[TelevisionAU]

@cmo

Also how can they put a revised bid when they’ve seen the competitors bid in detail? It doesn’t make sense. Can CBS review their bid. I don’t see how any of this is fair.

Also the deadline for placing bids passed on 25 August. How can any late bid be considered?

[Squee]

If Murdoch and Gordon get their way I can imagine that many foreign businesses (not just in the media industry) will seriously re-think any future investment into Australia - it’ll come across as extraordinarily corrupt.