Murdoch, Gordon back in hunt for Ten

September 15, 2017

The battle for the Ten Network continues with local media moguls launching offer against CBS's bid.

Lachlan Murdoch and Bruce Gordon are understood to be making a new offer for the Ten Network in a bid to head off the takeover of the battling broadcaster by US giant CBS.

The new bid, made through Mr Murdoch and Mr Gordon's respective investment vehicles Illyria and Birketu, is understood to increase the total return to unsecured Ten creditors from $35 million to $55 million, and aims to keep the company listed on the ASX.

Mr Murdoch and Mr Gordon were caught out in August when CBS launched its surprise bid for Ten and Mr Gordon has a case before the courts challenging the decision by administrators to recommend the US company's offer.

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