CBS might have to wait until at least Friday to get the final tick of approval for its takeover of Network Ten, with three shareholders of the embattled free-to-air broadcaster attempting to scuttle it.
Yunfeng Du, David Gubbay and Chun Leung have challenged an independent experts’ report issued by KMPG last month that determined their shares in Ten were worthless.
The NSW Supreme Court hearing, which kicked off yesterday in Sydney, was adjourned until this morning to allow the three shareholders time to run their eyes over a supplementary report prepared on behalf of Ten’s administrator, KordaMentha, according to Fairfax.
The supplementary report was issued in reply to the condemnation of KPMG’s findings by Ten shareholders.
The court hearing was originally slated to be just a three-day affair, but is now looking like it could go beyond this week.
All CBS needs now to finalise its deal with Ten is for the NSW Supreme Court to approve the transfer of the free-to-air broadcaster’s shares, after being given the all clear by the Foreign Investment Review Board last month.
Freedom Foods and 72andSunny Sydney have launched the first advertising campaign for Australia’s Own range of plant-based beverages. The campaign introduces a new visual world and identity for the brand and captures the healthy, positive feeling you get when spending time in nature and when consuming Australia’s Own certified-organic, plant-based beverages. As well as featuring […]
Nine creatives from APAC are among the 94 finalists from 27 countries in The One Club for Creativity’s prestigious Young Guns 19 competition, celebrating international creative professionals age 30 or younger. The finalists from APAC are: Hiu Ching Kung, graphic designer, Hong Kong Lam Ieong Kun, graphic designer, illustrator, indego design, Macau Raxenne Maniquiz, graphic designer, illustrator, Santa Maria (Philippines) Kiyotaka […]
OOH transit company Adflow has announced the success of the first phase of its regional expansion program. Adflow’s regional footprint has increased by 60 per cent to now include 65 regional locations. With 9.1 million people living regionally in Australia (growth of 1.1 per cent experienced in the 19/20 Financial year) and most regional centres […]
Freshworks, a leading software company, has started trading on the Nasdaq Global Select Market, marking an important milestone for the company. The company priced its IPO at US$36 per share (AU$49.76), raising about US$1 billion (AU$1.4B), resulting in a total market capitalisation of AU$13.7 billion (US$10B). Freshworks, which was founded in India, has strong roots […]
Black Friday Cyber Monday (BFCM) is the biggest player in the holiday shopping game and Google’s most recent research suggests consumer interest for the peak sales season starts much earlier than retailers may realise. The pandemic has fundamentally changed buyer behaviour over peak sales season, with Google suggesting that global consumer interest in Black Friday […]