Murdoch-controlled 21st Century Fox faces getting close to nothing in the payout of Network Ten creditors if it does not come to a new content supply agreement with the free-to-air broadcaster’s likely new owner CBS.
Ten administrators KordaMentha assessed the debt claim for the US studio, of which Lachlan Murdoch is executive chairman, to be $195 million. However, in a distribution to creditors, the administrator’s report said Fox would only receive $3.4 million if it does not come to a renegotiated content deal with Ten.
Under the CBS deal, employees, key content providers who stay with Ten and general trade creditors will receive 100¢ in the dollar on money owed. Onerous and terminated contracts, excluding Fox, will get 10…
Read the full article at: http://www.afr.com/business/media-and-marketing/tv/21st-century-fox-could-get-just-34-million-in-payout-of-ten-creditors-20170904-gya4af
