Channel Ten Debunks Claims Foxtel’s Set To Buy A 14.9 Per Cent Stake

Channel Ten Debunks Claims Foxtel’s Set To Buy A 14.9 Per Cent Stake

Fairfax Media has this morning reported that Foxtel is about to buy a large stake in struggling free-to-air station Channel Ten. However, the station immediately issued a media statement suggesting the article was inaccurate and no deals had yet been done.

Just as the article came to light (“Foxtel Closes in on Ten Network Deal”) Channel Ten issued a media statement saying that no deal had been finalised and urged “caution in dealing in its shares on the basis of media speculation about potential transactions involving the Company”.

This morning’s Fairfax article claimed that Foxtel is close to agreeing to buy a 14.9 per cent stake in Ten Network Holdings. That would see the subscription TV provider pump $85 million into the broadcaster and raise a further $100 million more through a general offer to shareholders.

However, Channel Ten this morning debunked any idea that shareholders had agreed to Foxtel’s offer. The statement read in full:

Ten Network Holdings Limited (ASX:TEN) (‘TEN’ or the ‘Company’) notes the article in today’s Australian Financial Review in relation to its strategic review process. That process continues and may or may not result in a transaction which is acceptable to TEN. One component of that process involves discussions with Foxtel about the terms on which it may potentially invest in TEN.

TEN will update ASX again when required to do so under its continuous disclosure obligations. In the meantime, TEN urges caution in dealing in its shares on the basis of media speculation about potential transactions involving the Company.




Please login with linkedin to comment

Advertising Standards Bureau Fetch TV The Press Council

Latest News

The Mars Agency Announces Latest Findings Of Retail Media Report Card
  • Advertising

The Mars Agency Announces Latest Findings Of Retail Media Report Card

The Mars Agency has developed a scorecard that assesses the capabilities of leading platforms across key criteria required to optimally plan, execute, and measure effective retail media programs. The scorecard aims To help brands efficiently evaluate their spending options across retail media networks in Australia (and New Zealand). With spending on retail media advertising in […]

TV Ratings (27/03/2024): Jungle Members At War Over Concealed Lipstick
  • TV Ratings

TV Ratings (27/03/2024): Jungle Members At War Over Concealed Lipstick

A heated argument between two jungle members did the numbers for Ten last night, with I’m A Celeb obtaining a total national reach of 1,282,000. Fans were delighted as Candice Warner and influencer Skye Wheatley got into it over a stick of lipstick, leading Warner to dub the Instagram star “selfish.” Wheatley, best known for […]