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Lachlan Murdoch makes fresh bid for Australia's Ten Network
September 15, 2017 / 3:06 AM / 3 months ago

Lachlan Murdoch makes fresh bid for Australia's Ten Network

SYDNEY, Sept 15 (Reuters) - Lachlan Murdoch’s private company on Friday made a revised takeover offer for Australia’s struggling Ten Network Holdings Ltd, which did not give a total value, according to bid documents reviewed by Reuters.

Murdoch’s company, Illyria, together with the private company of his business partner Bruce Gordon, had previously made an offer for the broadcaster before the network agreed to a buyout from United States cable network CBS Corp last month.

Ten was placed in to administration in June and the new offer raises the pool of cash payable to creditors from A$35 million ($28 million) to A$55 million. ($1 = 1.2508 Australian dollars) (Reporting by Tom Westbrook)

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