business - media
CBS Corporation to take over Network Ten
August 28, 2017
10:42am
Network Ten will be acquired by CBS Corporation. Picture: Renee Nowytarger
Dana McCauley, news.com.au
@Dana_Adele
CHANNEL Ten has been saved, with American broadcaster CBS Corporation inking a deal to buy the troubled network.
The receivers and voluntary administrators of Ten Network Holdings announced the deal on Monday morning, saying that it followed “a rigorous sales process”.
“Network Ten has played a significant role in Australia’s media landscape over many decades, and the sale of the business to CBS will allow the iconic broadcaster to move into a new chapter on a strong and stable footing,” said PPB Advisory Partner Christopher Hill, one of Ten’s receivers.
READ MORE: http://www.news.com.au/finance/business/media/cbs-corporation-to-take-over-network-ten/news-story/e2cdf58598e17ccdd80f89172a82f1ce
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