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Australia: Former Nine Network head aiding rival’s takeover

 |  December 14, 2014

The former head of Australia’s top free-to-air television cable network, Nine Network, is reportedly advising experts on acquisition plans for third-place competitor Ten Network.

Reports say former Nine Network chief Jeff Browne has been meeting with Saban Capital Group to advise on the climate of Australian TV network conditions as it explores an acquisition of Ten. The struggling network has received three other offers from Anchorage Capital, Silver Eagle and Discover Communications.

But Browne says he believes in the success Saban can bring to Ten. “They have an outstanding track record around the world for turnarounds in broadcast television,” he said. “I believe their experience, clear understanding of local conditions and the challenges facing Ten, and the structure they have submitted, are worthy of very serious considering by those at Ten.”

The acquisition offers were not made public, but reports say Saban’s offer is said to be lower than Discovery’s.

Full content: The Age

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