Bruce Gordon


CBS’s Ten deal nears completion

US broadcaster CBS has just one obstacle to overcome in order to take over Australian commercial net Ten. CBS has received the deal greenlight from Australia’s Foreign Investment Review Board (FIRB), leaving only the legal transfer of shares as an outstanding issue. The FIRB has no problems with the deal, which formulated after it emerged […]

Ten creditors choose CBS over Murdoch

CBS Corp will be the next owner of Australia’s Network after creditors accepted its offer. Lachlan Murdoch and business partner Bruce Gordon had tabled a rival offer in a bid to derail CBS’s previously agreed deal for Ten, but this has come up short. Unsecured creditors met yesterday to decide what deal to accept, and […]

Murdoch & Gordon fail to stop CBS’s Ten deal

Lachlan Murdoch and Bruce Gordon have failed in their attempt to stop US broadcaster CBS buying troubled Australian channel Network Ten. The pair had attempted to halt a crucial creditors meeting that will decide whether CBS Corp. can move ahead with its A$201 million (US$161 million) deal, but have seen this rejected in court. Administrators […]

Murdoch attempts to derail CBS deal for Ten

Lachlan Murdoch isn’t giving up on Network Ten just yet. While his brother James was playing politics in the UK over 21st Century Fox’s stuttering deal for Sky, Murdoch has launched a new bid to buy struggling Australian channel Network Ten. Earlier this week, the Australian government relaxed rules that stopped Murdoch from owning a […]

CBS loans Ten A$143m to pay off creditors

CBS has handed Network Ten a multi-million dollar loan to pay off creditors – including 21st Century Fox chief Lachlan Murdoch – as the US broadcaster moves closer to buying its Australian counterpart. The agreements see CBS loaning Network Ten A$142.7 million (US$113 million) to refinance the commercial channel’s debts, according to Network Ten administrators […]

CBS ‘among nine eyeing Network Ten’

US broadcaster CBS may be in hunt for Australian commercial broadcaster Network Ten. CBS is one of nine potential suitors that are being linked to a takeover of Ten, which remains in administration after its key shareholders refused to back a new financial package. Previous reports have claimed CBS, Ten’s biggest debtor, would be willing […]

CBS ‘claiming A$843m debts from Network Ten’

CBS Studios International (CBSSI) is reportedly claiming A$843 million (US$642.2 million) in debts from troubled Australian channel Network Ten. Various reports claim the international sales arm of US broadcaster CBS is the largest creditor of Ten, which is currently in administration. CBSSI has made the claim to Ten’s administrators, which are currently looking at either […]

Authority investigating Network Ten takeover plan

The Australian Compeition and Consumer Commission (ACCC), is investigating whether a Lachlan Murdoch-led plan to take over commercial channel Ten is legal. Murdoch and fellow Network Ten Holdings shareholder Bruce Gordon yesterday signalled they were planning to take over the business, a month after pooling their respective stakes together. Ten is currently in receivership after […]

Ten secures A$30m loan to keep afloat

Australia’s Network Ten has secured its immediate future after key shareholders agreed to fund an A$30 million (US$23 million) loan. Lachlan Murdoch, Bruce Gordon and James Packer agreed to support the package, which buys Ten some time and keeps the network on air. The funding package is available until August 31 and comes ahead of […]

Ten enters voluntary administration

Australian commercial broadcaster Network Ten has appointed voluntary administrators after its financial backing collapsed. Administrator KordaMentha has been brought in to undertake a financial assessment of the situation, with a sale or recapitalisation process options on the table. “This decision follows correspondence received from Illyria and Birketu over the weekend, which left the Directors with […]