The agreement that caused Lachlana Murdoch’s attempt to gain control of the channel will also see the launch of the CBS All Access streaming service below.
CBS Corp. Ten Australia Networks
The deal, for an indefinite amount, includes Ten’s main channel, two eleven and one digital terrestrial television channels, and ten plays’s streaming television service. DBS will also launch CBS All Access as the Svoda service in Australia and provide current financial support to ensure ten active activities.
As the largest creditor, CBS is the principal provider of programming for ten and 33 percent stake holders in the Tenth Digital Channel, eleven. The CBS will also prevent the proposed acquisition of ten current shareholders, Lachlan Murdoch and Bruce Gordon, whose proposal was approved by the local authorities of the Australian Consumer Protection and Consumer Protection Commission last week.
“The Ten Network is the first-rate property with over half a century of brand experience and brand value in Australia,” said CBS president and CEO Leslie Moonves. “We could gain a gain in our estimates that give us confidence that we will increase this asset by applying our programming skills to the market we already know.”
A statement by ten managers and recipients said the acquisition of CBS “is important to ensure strong and stable for companies and its stakeholders with the introduction of one of the leading media and entertainment organizations in the world of future milestones.
Paul Anderson, Executive Director Ten said: “CBS and Ten have had a strong relationship for several years and are excited about further developing this relationship with CBS as the owner and the strength to give the company at this critical moment.”
The transaction is completed in accordance with the Australian voluntary administrative procedure and is subject to certain legal approvals, including foreign investment permits.