Court approves Ten sale to CBS as judge rejects dissident shareholders’ claims
The NSW Supreme Court has today rejected last ditch efforts to block the sale of the Ten Network to CBS.
In a ruling delivered the morning after Ten announced its 2018 line-up, Justice Black of the NSW Supreme Court found the proposed transfer of shares to CBS’s nominee, rather than interests associated with Bruce Gordon or Lachlan Murdoch, would not be unfairly prejudicial to the network’s former shareholders.
According to Mumbrella email:
“Court approves Ten sale to CBS
The NSW Supreme Court has rejected last ditch efforts to block the sale of the Ten Network to CBS.
In a ruling delivered this morning in Sydney, Justice Black of the NSW Supreme Court found the proposed transfer of shares to CBS Australia or its nominee, rather than interests associated with Bruce Gordon or Lachlan Murdoch, would be unfairly prejudicial to Ten Network’s shareholders.”
Ooops ….
Thank you, the missing word was added shortly after the story was published. Your vigilance is to be admired.
Paul Wallbank
News Editor
Good news to all except the shareholders who get nothing. But that is the nature of the share market some you win and some you lose. Any word as to whether it will be rebranded CBS Ten or just CBS or continue with the TEN branding ?