CBS to get Australia's Ten Network

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This topic contains 5 replies, has 2 voices, and was last updated by  Bill Recto 1 year, 2 months ago.

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  • #176312

    Bill Recto
    Participant

    http://www.tvnewscheck.com/mobile/index/article/id/106774

     

    CBS is to get an Australian broadcaster. Plus it beat a bid from the murdochs to get the network.

    #176343

    Joseph_Gallant

    The name “Ten Network” is well-known to Australian viewers and has been since the late 1950’s, so I doubt it would ever be re-named CBS Australia.

    However, I wonder if the CBS Eye could become part of Ten’s logo.

    #176558

    Bill Recto
    Participant
    #177787

    Bill Recto
    Participant

    http://www.hollywoodreporter.com/news/fox-cancels-content-supply-deal-australias-network-ten-1053215

     

    And Now Fox has ended a distribution contract deal with Ten Network as a result of the CBS Deal.

    #178232

    Bill Recto
    Participant

    CBS Takeover of Ten Network Approved by Australian Court

     

    Update an Australian Court approves the CBS/ Ten Network Australia deal. According to Variety.

    #178234

    Bill Recto
    Participant

    http://www.abc.net.au/news/2017-11-10/cbs-clears-court-hurdles-to-takeover-network-ten/9138910

    http://www.reuters.com/article/us-ten-network-m-a-cbs-corp/cbs-buyout-of-australias-ten-network-nears-final-hurdle-idUSKBN1DA0UN

    Other news outlets like ABC News Australia and Reuters have confirmed that the CBS/ Ten Network deal has been approved. This article mentioned that a New South Wales Court approved the deal and how this deal came into play though. Note Fox was also one of the other bidders for Ten Network until CBS won and got the deal with Ten Network,

     

     

    CBS’s takeover of the Ten Network has cleared one of its final hurdles with the NSW Supreme Court approving the transfer of Ten’s shares to the US network.

    A small group of shareholders had challenged the move, arguing the CBS deal was unfair and left them with nothing.

    It followed the rejection of a rival bid for the company from media moguls Bruce Gordon and Lachlan Murdoch.

    Judge Ashley Black today ruled the share transfer could go ahead, finding there was “no unfair prejudice”.

    Network Ten’s CEO Paul Anderson welcomed the court’s decision saying it would provide certainty for the company’s staff.

    “This is an important time of year for us … we’re planning all of our shows for next year as well as doing our advertising deals,” he said.

    “An owner like CBS, the most successful television network in the US, they’ve got a huge amount of experience that we can tap into.
    “So I think it just gives us certainty and a confidence to go about what we’ve been doing.”

    While Ten’s administrators KordaMentha gave an undertaking not to start transferring shares until Wednesday, giving the group time to consider an appeal, partner Mark Korda warned further delays could result in significant damages.

    “We could lose large advertising contracts, we could have some of our talent resign, we mightn’t be able to write new contracts,” he said.

    “We want to take Channel 10 out of administration and give it a great future so there could be damages, but I’m sure we’ll get it settled and it will be fine.”

     

     

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