Discovery Communications is reportedly looking to strike a new deal to acquire TV network Ten.
Discover is reportedly planning a new takeover deal to acquire the nation’s fourth-largest TV network. The renewed offer would allow Ten’s largest shareholder, WIN Corporation, to hold a stake in the combined company.
WIN has previously vowed not to sell its 14.9 percent stake in Ten.
Ten has set a deadline of December 2, say reports, to receive takeover bids from interested companies. Discovery and Foxtel are the current frontrunners.
Foxtel is said to be seeking a new effort to combine its advertising unit Multi-Channel Network with Ten; reports say, however, that Foxtel would not be allowed to acquire more than a 14.9 percent stake in the company due to cross-media ownership restrictions.
Full content: Sydney Morning Herald
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