|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||0.16 - 0.17|
|52 Week Range||0.16 - 0.17|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
SYDNEY (Reuters) - CBS Corp's (CBS.N) buyout of embattled Australian broadcaster Ten Network Holdings (TEN.AX) won approval from an Australian court on Friday, leaving only sign-off from the nation's securities ...
Creditors of Australia's embattled Ten Network Holdings Ltd on Tuesday agreed to a A$209.7 million ($167 million) buyout from CBS Corp, effectively ending a battle for control between the U.S. broadcasting giant and Lachlan Murdoch. Creditors chose CBS at a vote in Sydney after the U.S. company sweetened its offer by A$8.6 million late on Monday, following a counter-offer from Murdoch, son of Rupert Murdoch, and his business partner Bruce Gordon.
Creditors of Australian broadcaster Ten Network Holdings Ltd voted in favour of a takeover bid from CBS Corp on Tuesday, a spokesman for Ten's administrator said. CBS won support from creditors both in ...
Two Australian media moguls have lost a court challenge to CBS Corp's planned buyout of bankrupt television broadcaster Ten Network Holdings Ltd , giving the U.S. media giant a strong upper hand ahead of a creditor vote on Tuesday. CBS, Ten's biggest creditor, swooped on the TV station after it went into administration three months ago, upending acquisition plans by Twenty-First Century Fox Executive Chairman Lachlan Murdoch and business partner Bruce Gordon that had been on hold as they awaited reforms to media ownership laws.
Media scion Lachlan Murdoch made a revised offer for Ten Network Holdings Ltd on Friday, a day after Australia's senate voted to lift a ban on the ownership of multiple types of media assets, allowing him to challenge U.S. suitor CBS Corp. The offer, whose value was not disclosed, escalates the battle for the bankrupt broadcaster into a full-scale bidding war, with Ten having already agreed to a surprise buyout by CBS. Murdoch and business partner Bruce Gordon bid for Ten as deregulation of media ownership was moving through parliament.
Australian lawmakers were set to approve legislation on Thursday allowing the consolidation of media companies, clearing the path for a likely rival bid to CBS Corp's proposed buyout of television broadcaster Ten Network Holdings after reaching a late-night deal on media ownership. Australia's so-called "two out of three" rule, which prohibits one organisation from owning all three media in any given city - newspapers, television and radio - would be removed under an agreement with influential independent senator Nick Xenophon. The government secured the deal with Xenophon after sitting late into the night on Wednesday, clinching his crucial block of three votes and paving the way for the bill to be approved on Thursday when the senate reconvenes.
Rupert Murdoch's Twenty-First Century Fox Inc joined a court challenge on Tuesday against rival U.S. cable network CBS Corp's proposed buyout of struggling Australian television broadcaster Ten Network Holdings Ltd. The U.S. broadcasting heavyweights faced off in the Australian courtroom amid a battle for control of Ten, a ratings laggard which went into administration three months ago following long declines in viewership and advertising revenue. Lawyers for Ten said the private company of Murdoch's son, Fox Executive Chairman Lachlan Murdoch, had offered to revise the offer it made in June before it was elbowed aside by CBS.
CBS Corp will pay at least A$201.1 million ($162 million) in cash to buy Australian broadcaster Ten Network Holdings, according to documents released on Monday by Ten's administrator. The youth-focused broadcaster with a national reach and strong brand became a tempting target as its market capitalisation plunged to just A$58 million in June, when it was placed in administration under a mountain of debt.
CBS Corp's buyout of struggling Australian broadcaster Ten Network Holdings Ltd will be delayed at least a week, after a court on Thursday said it would pause the deal to hear a challenge by a rival bidder. The decision opens a new front in a battle between CBS and a consortium led by Lachlan Murdoch, co-chair of News Corp , over Australia's third-ranked free-to-air TV station.
A business partner of News Corp Co-Chairman Lachlan Murdoch filed a motion in an Australian court on Thursday seeking to stop a vote on CBS Corp's planned buyout of a struggling local television station. Murdoch and billionaire Bruce Gordon, an Australian regional television owner, controlled a combined stake of about a fifth in ratings laggard Ten Network Holdings Ltd when it called in administrators in June.
CANBERRA, Australia (AP) — Australia's communication's minister said Tuesday he did not have a preference for who owned troubled Australian television broadcaster Ten Network, with U.S. giant CBS Corp. making a takeover offer while a bid by local media moguls remains stymied in the Senate.
Troubled Australian television broadcaster Ten Network will be sold to U.S. giant CBS Corp. subject to regulatory approval of foreign ownership, the Sydney-based company's administrator said on Monday. ...
The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - Uber Technologies Inc chose Dara Khosrowshahi, who ...
CBS Corp. agreed to buy struggling Australian broadcaster Ten Network Holdings Ltd., gaining an overseas platform for its video-on-demand service and squeezing out a potential bid by News Corp. Co-Chairman ...
CANBERRA, Australia (AP) — Nine Entertainment Co. is the latest Australian free-to-air television network owner in the red, posting a 203 million Australian dollar ($160 million) loss for the last fiscal year due to a weak advertising market and asset write downs.
Australia's antitrust regulator cleared on Thursday a consortium led by News Corp Co-Chairman Lachlan Murdoch to buy free-to-air television broadcaster Ten Network Holdings Ltd, saying the move would not harm competition. Australian Competition and Consumer Commission Chairman Rod Sims said that while the deal would reduce diversity of opinion in a market already dominated by a handful of companies including News, it would not "substantially lessen competition".
CANBERRA, Australia (AP) — Major Australian TV company Ten Network said Wednesday it had appointed voluntary administrators as it struggles with debt and shrinking advertising revenue.
Australian television station Ten Network Holdings Ltd said two high profile backers, including News Corp co-chairman Lachlan Murdoch, have informed it they won't extend their support for the company's ...