US broadcaster CBS has finally been given the green light to proceed in its takeover of Network Ten, with the Supreme Court of NSW approving the transfer of all of Ten’s shares.
The court approval was the only box that CBS had to tick to secure Ten, after being given the all clear by the Foreign Investment Review Board last month.
The court hearing kicked off last Tuesday, and got off to a slow start due to three of Ten’s shareholders, who challenged an independent experts’ report issued by KMPG last month that determined their shares in the free-to-air broadcaster were worthless.
Ten’s administrator, KordaMentha, then prepared a supplementary report for the three shareholders to run their eyes over.
In handing down his decision today, Justice Ashley Black said there was no unfair prejudice to come from the transfer of Ten’s shares to CBS.
All that’s left now is for the Australian Securities and Investments Commission to give the Ten-CBS deal its tick of approval.
Medallia has appointed Heather Paterson as its new ANZ country manager to drive further growth across Australia and New Zealand. With a strong sales performance and leadership background, Paterson joins Medallia as ANZ country manager following more than seven years with leading SaaS financial technology provider, Intralinks, where she was most recently director for Asia […]
Spikes Asia today announces that the 2021 awards will take place in February, bringing them forward to the first quarter of the year. Judging for the Spikes Asia Awards, the region’s most prestigious creative branded communications accolade, as well as the Tangrams Awards and Young Spikes competitions will all take place in February 2021. In […]
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Network 10 is set to undergo a massive restructure, leaving a number of high-profile journalists out of a job, including Kerri-Anne Kennerley, Natarsha Belling and Tim Bailey, B&T understands. As first reported on The Sydney Morning Herald, the restructure was announced to staff on Tuesday. As part of the restructuring, the presentation of the weekday […]