New TEN bid from Foxtel, Discovery.
Joint offer lower than previous bid, would enable Bruce Gordon to retain his shares of the company.
- Published by David Knox
- on
- Filed under News
Foxtel and Discovery have made a second and lower bid for TEN, according to media reports today.
The Australian reports they have offered less than their original 23c a share offer to enable WIN TV’s Bruce Gordon to retain his shares of the company.
Both would gain less than 100 per cent of the shareholder register in exchange for key assets, comprising television licences, spectrum, and studios.
That could enable Lachlan Murdoch and James Packer, who between them own just under 18 per cent of the company, to sell their shares.
Gordon has previously been reported as believing the network should remain in Australian hands.
Yesterday it was reported Gordon had offered to inject between $70 million and $100 million to TEN, gaining two seats on the board as part of the proposal.