Companies

Sep 18, 2017

Court crushes Bruce Gordon and Lachlan Murdoch’s Ten dreams — for now

CBS is one step closer to finally purchasing the embattled Ten Network.

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

Glenn Dyer

Crikey business and media commentator

Billionaire media mogul Bruce Gordon has failed to gain more time for himself and partner Lachlan Murdoch to conjure up a second, more credible bid for the Ten Network.

In the NSW Supreme Court this morning, Justice Ashley Black threw out Gordon’s case, saying he was “not satisfied” that lawyers for Gordon’s companies had established any deficiencies in the creditors’ report (from administrators KordaMentha) that would require orders to be made. He also said he was not persuaded that CBS should have its voting rights reduced or removed.

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2 comments

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2 thoughts on “Court crushes Bruce Gordon and Lachlan Murdoch’s Ten dreams — for now

  1. lykurgus

    Have the Gordon/Murdoch bid offered to pay with their own money in the new bid? Or are they still offering to pay with Channel Tens money?
    Because I’m pretty sure Gordon and Lachie don’t have 200 million.

  2. Dog's Breakfast

    Bewdiful!

    Gordon and Murdoch should be very happy to be getting out without having to stump off the guarantor loans, whatever else they lose on the deal. And given that they bought high and smashed the share price low, that might work out to a bit.

    Oh yippee, won’t that mean that Gina has done a bundle here too!

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