KPMG has reported that their shares are worthless.
Also worth noting the application of cbs for transfer of shares is quite common in business law. These idiots have no idea. Even that Gordon and Murdoch pissed off.
These two idiots are setting themselves up to lose more than 30k
And if that message hasnât gotten through to them, here is that message in the form of a song:
Gubbay argues that shareholders were told things at Ten were on the up and up. lol
Too bad he didnât come to Mediaspy he couldâve saved a lot of money.
This was just added to the Ten Corporate website:
In addition, Justice Blackâs orders included the following key dates:
Supplementary evidence to be filed and served by 4pm on 23 October 2017.
The Deed Administratorsâ submissions to be filed and served by 4pm on 27 October 2017.
Any interested person that has filed a Notice of Appearance in the proceedings to file and serve their submissions by 30 October 2017.
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.
October 31st is the day when we should know whether the FIRB has approved the deal.
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.
You can now put the champagne on ice.
For those who canât read past the paywall
The Foreign Investment Review Board has approved CBSâ 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.
Great news about FIRB approval. Hopefully the court case goes well and CBS is on board in November.
Thank fuck.
Luckily the ACCCâs Rod Sims has no power over this transaction, because if he did CBS would probably be waiting another 6-12 months.
Multiple floors of the Law Courts building at Queenâs Square in Sydney has been flooded due to a faulty sprinkler, resulting in the building being closed today, Monday. Letâs hope that the Ten hearing is able to go ahead as scheduled on Tuesday, and the CBS ownership saga isnât unnecessarily delayed.
Does anyone know where Bruce was last night? Just sayin.
Did he bring a little of his Bermuda Triangle to Sydney?
Someone took the âtime to hose down the speculationâ directive a little too literally.
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
KordaMentha have confirmed with an announcement to the ASX - letter was sent on the 27th
Wow, what a tantrum from News Corp; just making themselves look like a pathetic bunch of sore losers.