If the partnership proceeded it would put TEN in the streaming space alongside Nine / Fairfax service Stan and Seven / Foxtel’s Presto TV.
The Australian reports Netflix and TEN discussed jointly funding new programs and marketing initiatives, but Foxtel also approached TEN about joining Presto.
TEN declined to comment on the speculation.
Meanwhile Fairfax reports Discovery and Foxtel are exploring a new structure for the deal with TEN’s independent directors, after TEN’s largest shareholder, Bruce Gordon, said he would not accept the offer.
This would require only 51 per cent of voting shareholders to approve in order for them to get control of TEN’s key assets.
To be successful such a proposal would require the co-operation of TEN’s board of directors.
You can read more on that proposal here.