Court battle over Ten set to continue

September 18, 2017

A court is expected to hand down a ruling on the challenge to the CBS takeover of Ten.

The NSW Supreme Court is expected to hand down its ruling on Bruce Gordon's challenge to the CBS takeover of the embattled Ten Network.

Administrators KordaMentha had recommended the US television giant's bid over one by Mr Gordon and fellow billionaire Lachlan Murdoch.

Supreme Court Justice Ashley Black is due on Monday to rule on whether the second creditors' report from KordaMentha included adequate information about the original Murdoch and Gordon proposal when they recommended the CBS offer

Lawyers for Mr Gordon's Birketu argued in the Supreme Court last week that the CBS offer treated different creditors unfairly and was therefore a "transaction risk" and a magnet for litigation.

On Friday, Mr Gordon and Mr Murdoch made a new bid to Ten's administrators, offering the broadcaster's unsecured creditors up to $55 million compared to the $32 million offered by CBS.

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