B&TB&TB&T
  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Technology
  • Regulars
    • Agency Scorecards
    • Best of the Best
    • Campaigns of the Month
    • CMO Power List
    • CMOs to Watch
    • Culture Bites
    • Fast 10
    • New Business Winners
    • Spotlight on Sponsors
  • Jobs
  • Awards
    • 30 Under 30
    • B&T Awards
    • Cairns Crocodiles
    • Women In Media
    • Women Leading Tech
Search
Trending topics:
  • Cairns Crocodiles
  • Nine
  • Seven
  • Cannes Lions
  • WPP
  • B&T Women in Media
  • AFL
  • Thinkerbell
  • NRL
  • Pinterest
  • Anthony Albanese
  • State of Origin
  • imaa
  • Meta
  • ARN
  • AI
  • Spotlight on Sponsors
  • TV Ratings
  • Radio Ratings
  • Sports Marketing

  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise
© 2025 B&T. The Misfits Media Company Pty Ltd.
Reading: Network Ten Creditors Approve CBS Deal
Share
B&TB&T
Subscribe
Search
  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Technology
  • Regulars
    • Agency Scorecards
    • Best of the Best
    • Campaigns of the Month
    • CMO Power List
    • CMOs to Watch
    • Culture Bites
    • Fast 10
    • New Business Winners
    • Spotlight on Sponsors
  • Jobs
  • Awards
    • 30 Under 30
    • B&T Awards
    • Cairns Crocodiles
    • Women In Media
    • Women Leading Tech
Follow US
  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise
© 2025 B&T. The Misfits Media Company Pty Ltd.
B&T > Media > Network Ten Creditors Approve CBS Deal
Media

Network Ten Creditors Approve CBS Deal

Staff Writers
Published on: 19th September 2017 at 12:10 PM
Staff Writers
Share
2 Min Read
SHARE

Network Ten’s creditors have made a decision on who will take over the embattled broadcaster, with US studio CBS pipping billionaire media moguls Lachlan Murdoch and Bruce Gordon at the post.

A statement issued by the receivers and managers of Network Ten – Christopher Hill, Phil Carter and David McEvoy of PPB Advisory – announced that the second meeting of creditors today saw a vote carried in favour CBS to acquire Ten.

“We believe the approval of CBS’s DOCA represents a positive outcome for creditors, and ensures the iconic broadcaster continues on a strong and stable footing under the ownership of one of the world’s largest media organisations,” Hill said.

The full acquisition of Network Ten remains subject to court and Foreign Investment Review Board approval.

The news comes after CBS submitted a new bid to Ten administrator Korda Mentha last night that was higher than its original one of $32 million – a little over the $40 million mark, according to The Australian Financial Review.

CBS’ second bid followed the move by billionaire media moguls Lachlan Murdoch and Bruce Gordon who, through their respective investment companies Illyria and Birketu, submitted an offer for Ten that was $20 million higher than their original bid of $35 million on Friday.

Gordon desperately tried to delay today’s meeting of Ten creditors in the NSW Supreme Court, claiming that both of Korda Metha’s reports were missing vital information needed for creditors to make a proper decision on the broadcaster’s sale to CBS.

However, the application made by Gordon’s WIN Corporation was dismissed yesterday morning in court.

Join more than 30,000 advertising industry experts
Get all the latest advertising and media news direct to your inbox from B&T.

No related posts.

TAGGED: CBS, Network Ten
Share
Staff Writers
By Staff Writers
Follow:
Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

Latest News

Is Local Knowledge Key To Fighting Growing Trend of “Mediocre” AI-Powered Global Creative Work?
03/07/2025
Orchard Appoints Anthony Del Rio To Spearhead Its New Dedicated Experimentation Practice
03/07/2025
Koto Launches Tripadvisor’s New Brand, Celebrating Real Stories From Real Travelers
03/07/2025
Connect By Live Nation Reveals The Influence Of Country Music In Aus Through Latest Study
03/07/2025
//

B&T is Australia’s leading news publication magazine for the advertising, marketing, media and PR industries.

 

B&T is owned by parent company The Misfits Media Company Pty Ltd.

About B&T

  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise

Top Categories

  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Opinion
  • Technology
  • TV Ratings

Sign Up for Our Newsletter



B&TB&T
Follow US
© 2025 B&T. The Misfits Media Company Pty Ltd. All Rights Reserved.
Welcome Back!

Sign in to your account

Register Lost your password?