Can someone much smarter than I please give me a basic rundown of the approximate dates by which Ten should be taken over by CBS? It still has to clear the FIRB and get court approval, no?
Sick of waiting.
3 Likes
October 31st is the day when we should know whether the FIRB has approved the deal.
11 Likes
The above information is not correct. The court hearing on 31st October has nothing to do with the approval of the FIRB.
These are totally separate. The FIRB could approve or decline the takeover any day now - so a decision is imminent.
The transfer of shares court hearing is on the 31st October.
Should the FIRB be approved AND the transfer of shares happen successfully (without delay from opposing parties) then a settlement day would be forthcoming - almost definitely shortly after that court date sometime in November.
If those 2 shareholders find a way to delay the transfers then the settlement date will be later.
4 Likes
You can now put the champagne on ice.
19 Likes
For those who can’t read past the paywall
The Foreign Investment Review Board has approved CBS’ purchase of Network Ten, leaving just the approval of a court transfer of shares before the deal is finalised.
Sources said the approval, which is needed for a foreign-owned company to buy an Australian business, has now been ticked off. The approval was expected.
The US studio now only needs the approval of the Supreme Court before its purchase of Ten is finalised.
The court hearing, which begins on October 31, will decide on the transferring of Ten shares to CBS.
19 Likes
Great news about FIRB approval. Hopefully the court case goes well and CBS is on board in November.
2 Likes
Thank fuck.
12 Likes
Luckily the ACCC’s Rod Sims has no power over this transaction, because if he did CBS would probably be waiting another 6-12 months.
2 Likes
Multiple floors of the Law Courts building at Queen’s Square in Sydney has been flooded due to a faulty sprinkler, resulting in the building being closed today, Monday. Let’s hope that the Ten hearing is able to go ahead as scheduled on Tuesday, and the CBS ownership saga isn’t unnecessarily delayed.
9 Likes
Does anyone know where Bruce was last night? Just sayin.
12 Likes
Did he bring a little of his Bermuda Triangle to Sydney?
4 Likes
Someone took the “time to hose down the speculation” directive a little too literally.
8 Likes
Looks like there is no going back now - all FOX content officially gone from TEN.
A letter of termination has been issued by Fox, with the move effective already after Fox programs were hastily pulled off air three weeks ago after negotiations between the network and Fox broke down.
The long-term agreement, which included library content, was set to expire on June 30, 2019.
Fox terminates Ten Network deal for The Simpsons and Modern Family
http://www.theaustralian.com.au/business/media/fox-terminates-ten-network-deal-for-the-simpson-and-modern-family/news-story/7a35d4090e25c95a91b72ab83039ab24
8 Likes
KordaMentha have confirmed with an announcement to the ASX - letter was sent on the 27th
4 Likes
Wow, what a tantrum from News Corp; just making themselves look like a pathetic bunch of sore losers.
6 Likes
Was bound to happen. Ten will need to go in another direction with programming content. Shame to see Simpsons and modern family gone but I’m sure they’ll end up elsewhere. Probably new episodes kb fox 8
3 Likes
No News Corp co-ownership of Ten = no Fox deal.
Could Gogglebox be next to go from Ten?
1 Like
It’s not really produced by fox. They would have a contract with the production company. Shame if ten lost one of its highest rating shows
3 Likes
Gogglebox Australia is produced by EndemolShine Australia for Foxtel & Network Ten, so that contract is probably under a separate deal.
Similarly, the A League coverage/Back Page Live on One would probably also have a separate contract to the other Fox content.
1 Like