The list of strategic blunders committed by Bruce Gordon and Lachlan Murdoch in their quest for control of Ten Network Holdings is staggering.
As shareholders of the company and guarantors of the secured debt, Gordon and Murdoch were in an unassailable position to gain control of a company that has many links to other Murdoch controlled companies, including 21st Century Fox, Foxtel and Fox Sports.
As guarantors of a $200 million debt facility from Commonwealth Bank of Australia, they had the power to fund the company until a time of their choosing.
In June, before Ten went bust, Gordon and Murdoch essentially had four options.
First, they could have kept the company alive until the media laws were changed and then launched a …
Read the full article at: http://www.afr.com/brand/chanticleer/gordon-and-murdoch-got-ten-bid-horribly-wrong-20170907-gyct45
