Australian Investment Blog

Takeover rumours abound in the embattled Australian media space

Below, the chronological list of recent rumours around the battered Ten Network (TEN) is hardly a relief for shareholders who have experienced a +90% fall in the share price over the last 10 years. The whole sector has experienced a horrendous decade, with even the recently listed, Nine Entertainment basically unchanged, while the ASX200 has rallied almost 20% - another example that not all IPO’s are gold.

Gina Rinehart steps down as a director of (TEN), nominating an alternate director –Ms Rinehart owns 9.5% of TEN, which may now be easier to sell.

Rumours of Foxtel and US cable provider, Discovery to be considering a joint takeover bid for the troubled TEN.