Murdoch, Gordon yet to reveal next move in fight for TEN.
Outcome of CBS takeover won't be known until at least November.
- Published by David Knox
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- Filed under News
Billionaires Lachlan Murdoch and Bruce Gordon are yet to decide if they will intervene in the sale of TEN to CBS.
The NSW Supreme Court heard this morning they are awaiting an independent report to be filed with the Australian Securities & Investments Commission by administrator KordaMentha on October 10.
Counsel for TEN’s receivers Tiffany Wong said the company’s future hinged on the expedition of the proceedings, noting the difficulty of negotiating content deals under administration.
“If one can’t get content, one can’t get advertisers,” she told the court.
Justice Black made orders requiring any other interested parties to file their notices of appearance by October 13 and listed the matter for further directions on October 16.
An application for the proposed takeover has been “tentatively” listed for a three-day hearing on October 31.
Source: The Australian, AAP
7 Responses
I thought we were expecting the FIRB verdict about now. I I thought I read that the submission was made at the end of August and decisions take around a month
There is no fight. It’s over. Their game plan failed. I can’t think of anyone else in the country who doesn’t want CBS to purchase network TEN.
Bruce Gordon needs to concentrate on running WIN and Murdoch needs to forget about buying TEN and put a lot of extra money into Foxtel to make it a great service, which it certainly isn’t right now.
Lachlan Murdoch is not direct with Foxtel.
omg enough already. Murdoch and Gordon as the song from frozen goes; “LetItGo”. let the deal go through already.
I don’t get it. They didn’t want to bail the network out, but then they wanted to buy it at a bargain basement price. It’s a good thing CBS bought the joint.
You totally get it.