Australian media mogul Bruce Gordon has lost his court case against the Ten Network’s administrators KordaMentha and US media giant CBS.
Key points:
- Media owners had argued the creditors’ report was deficient because it only presented information about the CBS bid
- However, the judge was not satisfied there were any deficiencies in the report
- Ten’s troubles began in June when Mr Gordon’s and Mr Murdoch’s companies decided not to continue as guarantors
Mr Gordon and Lachlan Murdoch had taken action against the administrators of the Ten Network to scuttle the sale of Ten to CBS.
The media owners argued their bid to buy the network had not been properly c…
Read the full article at: http://www.abc.net.au/news/2017-09-18/gordon-loses-ten-network-court-decision/8956062