Reports are emerging that Oaktree has pulled out of the race for TEN, leaving Lachlan Murdoch & Bruce Gordon as the likely buyers.
The Australian suggests US hedge funds Oaktree and Anchorage submitted a joint bit last Friday, but sources tip it has now been withdrawn.
The Australian Competition and Consumer Commission is yet to reveal its decision on whether the Murdoch / Gordon bid can be approved, while the government is yet to pass media reforms.
Previous reporting suggests their bid may include a plan to have a minority equity interest but a majority economic interest, to get around ownership laws.
Meanwhile Fairfax has been reporting some inside Labor concede that the two-out-of-three rule is out of date and irrelevant but because Murdoch clearly wants the changes, Labor can’t agree to it.