Bruce Gordon

Ten future in doubt as backers pull out

Australian commercial broadcaster Network Ten is facing receivership after major shareholders Lachlan Murdoch and Bruce Gordon pulled their backing. Ten has ceased trading shares after a letter to the Australian Securities Exchange (ASX) revealed Murdoch’s Illyria and Gordon’s Birketu would stop financing the network on December. Ten has a number of expensive output contracts in […]

Ten faces fight for future after A$232m loss

Australia’s third largest TV channel, Network Ten, has warned its future is in danger after recording a huge half-year loss. The company share price continued to fall – it is down 60% in a year – after it posted a first-half loss of A$232 million (US$173.3 million), mainly relating to licence fee writedowns. The broadcaster’s directors […]

Foxtel nears Ten deal

Australian paycaster Foxtel is closing in on a 14.9% stake in commercial free-to-air rival Network Ten, according to a local report. Fairfax Media reports 21st Century Fox-backed Foxtel will invest around A$85 million (US$66.4 million) at 18¢ a share in Network Ten Holdings, which operates the embattled Ten. Following Fairfax’s story, ASX-listed Ten issued a […]

Discovery ‘exits Ten takeover talks’

Discovery Communications has pulled out of talks to buy Australian commercial channel Network Ten, according to the Australian Financial Review. Discovery had partnered with Australian pay TV platform Foxtel to buy the for-sale broadcaster, whose financial situation is precarious as things stand. Discovery would have held 85.01%, with Foxtel taking just under 15%. However, the […]

Caution urged over Ten future speculation

For sale Australian broadcaster Network Ten has urged caution after reports that a key shareholder is looking to take control of the firm. The network released a statement on the Australia Stock Exchange after reports Ten shareholder Bruce Gordon had submitted an alternative proposal to an outside takeover. This would see him provide the channel […]

Discovery’s Ten bid looms as Gordon rep resigns

The man who represented for Network Ten’s largest single shareholder on the broadcaster’s board has resigned. The development came as a deadline for bids for the Australian firm, which is on the block, looms large. Paul Mallam, who represented Bruce Gordon and has sat on the board for four years, unexpectedly announced his resignation via […]