CBS completes acquisition of Ten Network
CBS Corporation has completed its acquisition of Ten Network, the companies have announced today.
The news comes five months after Ten went into administration following the withdrawal of financial support by interests controlled by WIN owner Bruce Gordon, Lachlan Murdoch and James Packer.
The company reported a $232.2m loss reported in its half-year results in April and at the time of administrators being appointed, CBS was among Ten’s largest creditors, putting in a debt claim for more than $800m.
