US-based firm Providence Equity Partners is the latest giant to join the Ten saga as a potential investor, reports from The Australian suggest.
The investor tango with the Ten Network continues as US investor Providence Equity Partners emerged as the latest company to arrive as a potential investor in the embattled network.
The emergence of the private equity firm as a possible investor in Australia’s No 3 network comes amid increasing activity across the broader media sector ahead of anticipated media deregulation later in the year.
Sources suggest the likelihood of Providence acquiring Ten’s equity and debt remains low, just as recent reports of both US network CBS and British broadcaster ITV showing interest in investing in Ten were hopeful and part of widespread sector analysis and speculation ahead of the relaxation of media ownership rules.
Read the full article by Michael Body and Damon Kitney here.