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Australia: Discovery entices shareholder in new Ten buyout plans

 |  November 24, 2014

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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