oOh! gets its hands on outdoor company Eye at the second asking
Embattled Ten has agreed to sell its outdoor operation Eye to the owner of oOh! media for a reduced price.
Ten Network Holdings has previously agreed a deal with Champ Private Equity to sell Eye for around $145m.
Champ pulled out, but tonight, Ten announced that it agreed a new deal to sell for $113m. The deal includes $98m in cash with a further $15m to follow in three years.
However, the announcement said that Ten would still be responsible for “onerous contracts” which could cost it $16m.
Sounds like a Nursery Rhyme.. oOh Eye oOh Eye oOh!
dropping the eye name for ooh? maybe not such a good idea…
dropping the eye name for ooh? maybe not such a good idea.
no it doesn’t!
This is like a nursery rhyme. Maybe Ten management and the Chairman should take a nap ! Poor little fellows.
Maybe Ten Network Holdings should sell the TV Network and keep the outdoor company. Less chance of f*cking that up I’d think.
One of the stupidest deals done ever.
The first version of it was a poor deal for TEN, but then to have Champ walk away from it …and then run after them offering to sell at any price was complete stupidity.
Just how bad are things really at TEN? Doesn’t seem like regular shareholders are getting the full story.
Acttually, James may be right it is a nursery rhyme…..
‘Young Mr Murdoch is a corporate disaster ..oOh Eye oOh Eye oOh!..
He bought into TEN when it was fine ..oOh Eye oOh Eye oOh!
and few few short months it was on the floor ..oOh Eye oOh Eye oOh
with a ratings fail here and a ratings fail there ..here a fail, there a fail, every touch a fail, fail,
‘Young Mr Murdoch is a corporate disaster ..oOh Eye oOh Eye oOh!..’
oOh Brian, that hurts my Eye