Sep 24, 2009

Macquarie emerges from the pack to save Ten

The Ten Network is in the middle of some major changes with Macquarie Media and 81-year-old Bruce Gordon set to emerge as major shareholders. Seriously.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

Macquarie Media and 81-year-old Bruce Gordon are set to emerge as major shareholders in the Ten Network as the financial-stricken parent, Canwest, bails out to raise much needed cash.

Gordon has an 11.6% stake in Ten, the second largest holding after Canwest, which is in the process of selling off that stake to local institutions.

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