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Ten’s journey into hands of US giant CBS – SBS

Ten’s history shows Australia’s third free-to-air network struggling against a backdrop of declining advertising revenue, increasing competition and leadership tussles.

1964 – Launched as ATV-0 and owned by the Ansett transport and media group

1979 – Rupert Murdoch gains a 50 per cent stake in Ansett, giving him control of channel 0

1980 – The broadcaster becomes known as Network Ten

1987 – Murdoch becomes an American citizen and is obliged under Australia’s media ownership laws to sell the television station to Northern Star, an offshoot of Frank Lowy’s Westfield Group, for $950 million

1989 – Westfield sells Ten’s Sydney and Melbourne stations to Steve Cosser’s Broadcom. The other stations were folded into Capital, wi…

Read the full article at: http://www.sbs.com.au/news/article/2017/11/10/tens-journey-hands-us-giant-cbs

Category: LiquidationBy Insolvency GuardianNovember 9, 2017

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Ten’s journey into hands of US giant CBS – SBS

Ten’s history shows Australia’s third free-to-air network struggling against a backdrop of declining advertising revenue, increasing competition and leadership tussles.

1964 – Launched as ATV-0 and owned by the Ansett transport and media group

1979 – Rupert Murdoch gains a 50 per cent stake in Ansett, giving him control of channel 0

1980 – The broadcaster becomes known as Network Ten

1987 – Murdoch becomes an American citizen and is obliged under Australia’s media ownership laws to sell the television station to Northern Star, an offshoot of Frank Lowy’s Westfield Group, for $950 million

1989 – Westfield sells Ten’s Sydney and Melbourne stations to Steve Cosser’s Broadcom. The other stations were folded into Capital, wi…

Read the full article at: http://www.sbs.com.au/news/article/2017/09/19/tens-journey-hands-us-giant-cbs

Category: LiquidationBy Insolvency GuardianSeptember 19, 2017

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