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
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?
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.
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.
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.
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.