CBS Corporation, the US broadcaster, is buying Australias Ten Network.
Billionaires Lachlan Murdoch and Bruce Gordon, both significant shareholders in Ten, had been expected to end up as full owners.
The network went into voluntary administration in June after the two shareholders refused to increase or extend a $200 million credit facility past December.
The New York Stock Exchange listed CBS Corporation, a key content provider to Ten, has entered into a binding agreement to acquire the business and assets of Network Ten.
No financial details were announced, including a final sale price, and a return to creditors hasnt been finalised.
Administrator Jarrod Villani of KordaMentha says the receivers and admi…
Read the full article at: https://www.businessinsider.com.au/the-ten-network-is-being-sold-to-americas-cbs-2017-8