Mallam has been a director since 2010, representing the Bermuda-based billionaire.
Media reports speculate there had been a disagreement between Mallam and Gordon, ahead of the final deadline for prospective tenderers closing tomorrow.
In a statement to the Australian Securities Exchange today Mallam said: “I would like to pay tribute to my fellow directors, who have addressed the issues facing the company in a disciplined and cohesive manner.
“I also have nothing but praise for the focus and commitment of management and staff of Ten. Pleasingly, their efforts have repositioned the network and created a more competitive platform for 2015.”
The Australian Financial Review today reported that Gordon had reversed his previously held opposition to a Discovery / Foxtel bid for the network, to be capped at a 14.9 per cent stake.
Any offer needs the support of the network’s four main shareholders, Lachlan Murdoch, Gina Rinehart, James Packer and Bruce Gordon, but will also come under the scrutiny of the ACCC.