Paramount Australia & New Zealand

Wish some cashed up foreign buyer would just come in and swoop and buy them. Someone like CBS would be good. But alas Murdoch and Gordon wouldn’t let that happen. THis is all too suspicious and tens ability to trade is hampered even though they won’t go to the wall they are still hampered in new programming or rights etc.

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Well that is an interesting development - looks like CBA arent happy

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interesting that it’s only News Corp that is reporting it. Nothing about this latest development on ABC or Fairfax websites?

This Fairfax Media story has a timstamp of 19:07 AEST:

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also doesn’t mention the ‘r’ word?

ABC story

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No it didn’t, but not entirely surprising if true that money will be provided to let Ten keep operating. If those funds weren’t to be provided, then yeah…

PS: I wonder if Murdoch & Gordon are (temporarily) backing off since the media ownership laws haven’t changed.

Ten chairman David Gordon to sue The Australian for defamation, relating to Darren Davidson’s article on Monday morning.

All class News Corp :confused:

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Ten Network ‘on hold’ for media reform

Mr Korda said he would ask the Federal Court to delay a meeting of creditors due next month until after federal parliament resumes on August 8, in the hope that media reform laws would pass.

“We believe the company can be recapitalised under the existing laws, but obviously for an ongoing long-term viable business it would be better for the laws to be changed,” Mr Korda said after a meeting of creditors in Sydney yesterday.

The two — former directors and major shareholders before the collapse — have formed a joint venture to pitch a restructure of Ten. But they may face competition after Mr Korda yesterday said there had been “quite a number” of expressions of interest in Ten.

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Interesting speculation from the AFR that CBS could be a potential buyer of Ten from a number of foreign interests. Murdoch and Gordon wouldn’t be liking that.

I think another party that hasn’t got a tie up here in Australia would be good for the media here. CBS would be a good fit to buy ten. CBS would certainly be better than News Corp or WIN.

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I’m still hoping for Viacom they do have tonnes of assets and content

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That would be an interesting development. It also highlights that any move to delay decisions on the sale to allow for changes to media laws only have one agenda in mind and are for the benefit of two of the creditors. The gamble to force receivership as some sort of threat to Parliament to pass the changes backfired.

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Seriously CBS :grin:

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The Australian has issued a full apology for the report:

An article in The Australian on Monday (“Ten chairman sold down stake”, page 23) incorrectly stated that Network Ten chairman David Gordon sold 88 per cent of his shareholding in the company before it went into voluntary administration. The Australian acknowledges that Mr Gordon did not sell any shares in the company and in fact his shareholding increased in the period before the company was placed into administration. The reduction in the number of shares held was due to a 10:1 share consolidation applying to all shareholders, which took effect on January 25 last year. The Australian acknowledges that its statement was inaccurate and untrue and apologises to Mr Gordon. The article also stated that Mr Gordon and the Network Ten board failed to conduct scenario modelling on cashflow analysis and were caught unprepared when the three main shareholders decided not to back a financial restructuring of the broadcaster. The Australian also acknowledges that both of these statements were inaccurate and untrue and apologises to Mr Gordon and the board.

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So News Corp were engaging in Fake News yesterday. Clearly an agenda when it comes to ten. Therefore a new buyer from overseas would be good for the network.

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Just in case you’re confused, Viacom and CBS are now separate companies.

But yes either Viacom (who bought Channel 5 in the UK a couple of years back) or CBS would be good prospective buyers for Ten.

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Same news company that said through their ‘unbiased’ articles that Foxtel Now would crush Netflix, Stan and the like… yawn

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Comparison of TV share prices:

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Is this any help to ten?

http://www.heraldsun.com.au/news/tv-and-radio-networks-receive-surprise-boost-as-broadcast-licence-fees-scrapped/news-story/7dab5e55eb543cf0200a273cde20bdab?nk=35d74461f7ea9f442db703a4a3a38b94-1498659219

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Ten to go into receivership this afternoon or Monday morning, according to AFR

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