How does CBS have so much cash to splash around buying Ch 10 ?
WIN are scared of the potential for investment and a fresh media organisation running their affiliate? Gordon has lost the plot if thatâs the case. If Gordon wants WIN to do well, he should sit aside and hope CBS boost Ten and WINâs ratings. Murdoch will sell Ten up a river and fuck WIN in the process.
Foxtelâs sorry foxtelâs strategy isnât sensible either. They would be far better off transforming their business to suit the 21st Century, rather than merely shutting down existing competition.
It hasnât fit Tenâs young demographics previously, actually Fox has been a better match for Ten.
But if CBS buy TEN, I think itâs fair to say they might try to bring all their programming to Ten, and theyâll certainly look broadly at how to make Ten work (whatever that answer may be!).
Yes while Fox and Ten have some synergies, WIN didnât want the younger audiences, and enjoyed 9âs ratings and audience previously. So for them a CBS owned TEN is better than a Foxtel-owned TEN⌠but is CBS owned TEN better than a Foxtel+WIN owned TEN?
Bruce doesnât care about doing well. Heâs so old he could never spend all the money he has, so thereâs no incentive for him to make any more.
What he really cares about is power - and the more shit he owns and controls, the more power he has.
But heâs ready to drop dead. Why does he need power? Does he realise how shit the WIN network actually is?
Gordonâs appealing. For fuck sake. The longer this takes the worse it is for ten. Theyâre driving it down to death.
Knowing this is the same person who (unsuccessfully) sued itâs former network affiliate because they livestreamed network channels over the internet, why am I not overly surprised?
Theyâll probably have a beer together this afternoon after work.
SMH saying that Ten staff will vote in favour of CBS. Staff have the majority on a show of hands, while CBS have a majority as the largest creditor.
Very good analysis from Elizabeth Knight in that article. The staff were always voting for CBS.
Imagine pyrmont and como center being shut down ⌠ten would barely remain as a broadcaster under those idiots.
The arrogance and ego is astounding. They fucked up and are scrambling.
Ten reported in their news that the appeal has been lodged.
This looks like going on and on.
Onya Mal
I still quite do not understand how KordaMentha can present an alternate bid after it was submitted two weeks later and after the rival bid was revealed.
Arenât tenders done in a confidential manner?
Letâs hope the court throws out the appeal and wastes more of their money.
Youâd think theyâre so hell bent on owning ten because they wasted so much money on it before.
And as for no redundancies in the initial bid⌠that doesnât mean it wonât happen once the network is ârestructuredâ to save costs by closing offices and the news department.
Gordon gets away with a lot as an affiliate - CBS are notoriously tough on affilates
Iâm thinking based on a couple of things the judge said that the decision is in the hands of the creditors. It isnât up to a court to say which is the best bid and even if it did there is nothing to force the creditors to pick the âbestâ bid. Gordon/Murdoch can have a higher value bid and still not succeed. Creditors can vote for whatever bid they want.
US Entertainment group CBS has slightly increased its offer for the Ten network to offset the higher bid from Bruce Gordon and Lachlan Murdoch.
Last night CBS said it would increase the payout to Fox to $12 million from its original offer of $3.4 million and it would cancel its warranty of $5 million on the creditors trust.
The changes according to Administrator Mark Korda mean all creditors are now at least or better off with the CBS deal compared to the rival Murdoch and Gordon claim.
Well done CBS. They obviously want this network to expand their dealings across the world.
There really is now no compelling reason for Murdoch and Gordonâs bid. They are rubbish.
Iâm not surprised. This potentially negates any appeal as well because even if all aspects of the previous judgment were reversed to make CBSâs vote worth $1 and the Gordon/Murdoch bid put to meeting the result of a creditors meeting would be the same. By number the CBS bid would win and even if the by value vote was lost the administrator has the casting vote (my understanding anyway!). However, 20 C Fox should now really vote in favour of the CBS deal based on value.
Original source of new bid story.