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Australia: Ten CEO Hamish McLennan resigns as ACCC probes Foxtel deal

By  |  July 27, 2015

Ten Network’s chief executive has resigned from the broadcaster’s top job after it tied up a deal with Foxtel, but the competition watchdog warns its blessing for that deal is not guaranteed.

The company’s chief executive Hamish McLennan has resigned from Ten’s top job after a little over two years in charge.

It will be the struggling network’s fifth chief executive in the space of five years, and comes just after Mr McLennan inked a deal with Foxtel that will see the pay TV company take a 14.99 per cent stake in the free-to-air broadcaster, subject to regulatory approvals.

The outgoing CEO, whose resignation is effective from today, said his work at Ten is now done.

The Australian Competition and Consumer Commission said it will be forensically examining all of Rupert Murdoch’s local media interests, as it considers the proposed deal that would see Foxtel own almost 15 per cent of the Ten Network.

Full content: The Sydney Morning Herald

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