CBS has now paid off TEN debts owed to the Commonwealth Bank of Australia, Lachlan Murdoch, Bruce Gordon and James Packer.
The biggest creditors were paid a combined $140 million on Friday by CBS. All four are no longer creditors of TEN and are understood to have been stripped of committee and voting privileges.
However 21st Century FOX has an unsecured debt, while WIN Corporation is also an unsecured creditor as TEN’s regional affiliate.
The move gives CBS even more voting power at the creditors meeting due on Tuesday, 12 September.
But there is still the possibility of legal action by smaller shareholders.
A creditors report compiled by administrator KordaMentha is due out on Monday and will include details of TEN’s finances as well as the sale process.
Source: Australian Financial Review