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Reports: Foxtel poised to take 15% of TEN
A deal between Foxtel & TEN could be finalised as soon as this week.
- Published by David Knox
- on
- Filed under News
Foxtel will take a 14.9% stake of Network TEN according to media reports today.
Both The Australian and the The Australian Financial Review are reporting a deal is close.
Fairfax claims Foxtel will pay 18c per share, less than the 23c jointly offered by Foxtel and Discovery Communications, but opposed by shareholder Bruce Gordon.
The newspaper claims a key part of the new offer was that it could not be blocked by Gordon, who also owns 14.9%.
The deal would reportedly include the merger of sales teams from TEN and MCN, for Foxtel.
TEN is also said to be joining streaming service Presto. Both TEN and Foxtel also jointly commissioned Gogglebox and share a FOX output deal.
An agreement could be signed as soon as this week.
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4 Responses
Foxtel and Ch 10 will fight for the AFL and NRL Rights. As they already share Motorsport this will be good as people that cant afford Foxtel might be able to see a lot more live sport.
A streaming Co buying into FTA is going against the tide. Conspiracy theories arise, Murdoch, Telstra? Sport is the lifeblood of Foxtel, will TEN get a transfusion if the rights-holders agree?
So that’s 7, Foxtel and Ten with Presto.
Maybe it’ll be the kick up the bum it needs to make it HD. Otherwise – not interested.
Agree with you re Presto. I don’t know why they launched without offering content in HD. I have both Stan & Netflix, but will not consider Presto whilst it is SD only.