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Report: Paramount to sell 10?

Updated: Media speculates on future sale -but 10 has denied the story.

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Here we go again…

A media report suggests Network 10 could be sold by its owners – but not for another 2 years.

The Australian speculates Paramount could divest its interest after then-CBS paid about $250m for the business five years ago.

It suggests the purchase was tied to launching Paramount Plus streaming service in Australia.

As to future buyers, a merger with Southern Cross Media (coincidentally headed by former 10 CEO, Grant Blackley) is one idea floated, to make it more attractive to a potential buyer.

Before CBS puchased 10 in 2017, administrators recommended an offer from Bruce Gordon & Lachlan Murdoch be rejected.

Creditors comprising the network employees did just that, in favour of a CBS acquisition.

Updated: 10 has denied the story.

13 Responses

  3. Won’t surprise me. Their problem is the ratings, especially on a Satuday night. There was not a lot of decent programming on Saturday nights since losing the AFL in Oct 2011. Instead, they wheel out some random doco stuff and also some movies. But the big turning point is the A-League soccer. A-League doesn’t rate well, with ratings under 80k. 10 need to fix up their ratings, otherwise they will continue to struggle for years to come. Or worse, they may as well run a test pattern on Saturday.

  4. Doesn’t surprise me – perhaps why they’re keeping 10Play active along with Paramount+ so the product they sell still has a foot in the VOD market too. Fair play to CBS/Viacom/Paramount they’ve not done too bad a job with it and kind of accepted 10 for what it is rather than seeing it as a distant third behind 7 and 9.

  6. It wouldn’t surprise me if they sold it or gave up when the end of the soccer and Melbourne Cup rights finish ,they paid way too much and the soccer is a flop $200M and 100M for the Cup that’s alot

  7. Most recent rumours had a surprise offer from JB-Hifi Limited sometime in the next 6-12 months.

    Pretty decent business plan too – consolidate channels, retain established branding, mail the Friends box set to all current viewers then broadcast their own ads 24/7. Disruption would be minimal.

  8. … buying 10 was a stupid, egotistical decision by the former boss of CBS … once he was unceremoniously pushed out the door, the new lead team from Viacom started the process of concentrating on what they rightly saw as “core business” – streaming – and moved 10 to one side … the transition to Paramount cemented that and set the scene for divestment … who will they sell it to? well you have to remember that Bruce Gordon was president of Paramount International for many years and still has ties there …

  9. What a surprise….not. A big company comes in, tries to fix the issues and then disappears again. It’s a rinse and repeat cycle with 10. Makes sense though but if this really is the case, then if i were the AFL i wouldn’t be doing business with them if their main goal is to get the sport on Paramount+ then cut ties with the network that got them the rights. Thats just dodgy business and it puts 10 up in the air again as being a viable option.

  10. Maybe it is a good move but people are set in their ways, I know my parents would not watch anything on any other channel apart from Channel 6 (Now Win TV) and listen to the same radio station all the time. The 10 network need to change peoples thinking.
    With shows like HYBPA and The Cheap Seats they are proving that they are a watchable network. I am 75 so I tend to watch either older shows or past paced shows. 10 Play need to get the whole 37 seasons of Neighbours on there I have only seen the last 27 years worth.
    They need to do something, but in saying that I prefer to watch 10 than 7 primarily because of the amount of ads.

  12. Might be better to close the doors, self off local programming and crews to 7 or 9 and consolidate whats left so limited job losses….who knows how many eyeballs would be on Masterchef last night if it was on 7 or 9?

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