Mar 27, 2014

Will Murdoch still pull the strings at Ten? Takeover talk will reignite

Channel Ten is more vulnerable than ever with Lachlan Murdoch resigning from the board in favour of a plush News Corporation post. The takeover speculation will only intensify.

Paddy Manning

Crikey business editor

Already at sea, the Ten Network is more vulnerable than ever after yesterday’s sudden resignation of Lachlan Murdoch as chairman and the unwinding of a shareholder agreement between his private investment vehicle Illyria and billionaire James Packer’s Cavalane Holdings.

On October 20, 2010, Packer revealed he had bought a 16.5% stake in Ten for $258 million at $1.50 a share. Next weekend he invited Murdoch to Ellerston, the Packer family estate near Scone, and an agreement was reached that Murdoch would come in on the deal.

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3 thoughts on “Will Murdoch still pull the strings at Ten? Takeover talk will reignite

  1. Bill Hilliger

    …Speculation has been rife that News will bid for Ten. I believe that. Eventually Ten will be morphed into the Australian free to air version of a US style Fox News. With a Roger Ailes style management of content conducted by A Blot. Freedom to insult etc. under the new amended law will be more important than ever before. Ten will then also become the coalition government speakeasy propaganda network just like Fox News is on behalf of the American Republican Party. And if the US is any guide the morphed channel 10 will rate its socks off. I can hear Tony Abbotts lips smacking with anticipation. Just need to change a few media ownership constraint rules, and yo, ho, ho here we go with wall to wall Fox News type of reporting on the goodness and outstanding talent that prevails in the coalition government. La, la, la!

  2. AR

    I had the misadventure to see Blot on a modern HD screen on the week-end. It was interesting to see that he’d had that large facial wart removed but unfortunately not the one with the ears & mouth.

  3. Tyger Tyger

    Judging from The Bolt Report’s abysmal ratings, I’m not sure the Australian public is quite dumb enough yet for a Fox News style network to flourish, Bill Hilliger, but we’re getting there!

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