CBS buys Network Ten

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Network Ten @2x

The woes of Channel Ten Australia have been cast aside as a decision was made today for U.S. studio CBS to acquire the embattled network.

CBS beat billionaire media moguls Lachlan Murdoch and Bruce Gordon to the post in a bid of just over $40 million, according to The Australian Financial Review.

In an effort to delay a meeting with Ten’s creditors, Bruce Gordon told the NSW Supreme Court that the network’s administrators, Korda Metha, were missing vital information needed to make a speedy decision on the broadcaster’s sale to CBS yet the court dismissed his claim.

For now, viewers of Channel Ten will be happy to know the network will remain on air, at least for the near future, and that they can continue enjoying shows like American Horror Story, Offspring, Life in Pieces, and of course long-lasting soap series Neighbours.

Ten also has a healthy run of reality programs on its schedule including The Bachelor, The Living Room, and MasterChef Australia which is gaining favour once more after bitter rivalry between hosts over the past twelve months.

Just how much content will remain locally produced viewers will have to wait and see.  Antonino Tati