You will be redirected back to your article in seconds

CanWest buys Aussie Net Ten

CanWest Global Communications has concluded the deal to buy Network Ten from the Wespac Bank and has named the other members of the consortium.

Foreign ownership rules restrict CanWest’s stake to 15%, but the other leading investors are Telecasters North Queensland (Ten’s affiliate in the northeast) with 40% and Audant Investments with 15%.

With 10% each are advertising executive John Singleton and Hungry Jack fast food franchise owner, Jack Cowan. A further 5% has been taken up by tour operator Isi Leibler. The remaining 5% is being held for other overseas investors as yet unnamed.

Westpac had to move fast on the deal to divest itself of Ten because Kerry Packer’s purchase of 10% of the bank’s stock conflicted with his control of the Nine web.

More Biz

  • Harvey Weinstein ousted

    Weinstein Co. Adds Board Member to Navigate Bankruptcy Sale

    CanWest Global Communications has concluded the deal to buy Network Ten from the Wespac Bank and has named the other members of the consortium. Foreign ownership rules restrict CanWest’s stake to 15%, but the other leading investors are Telecasters North Queensland (Ten’s affiliate in the northeast) with 40% and Audant Investments with 15%. With 10% […]

  • Allison Mack

    'Smallville' Actress Allison Mack Arrested in Sex Cult Case

    CanWest Global Communications has concluded the deal to buy Network Ten from the Wespac Bank and has named the other members of the consortium. Foreign ownership rules restrict CanWest’s stake to 15%, but the other leading investors are Telecasters North Queensland (Ten’s affiliate in the northeast) with 40% and Audant Investments with 15%. With 10% […]

  • Harvey Weinstein

    Harvey Weinstein Still Seeking His Emails to Combat Sexual Assault Claims

    CanWest Global Communications has concluded the deal to buy Network Ten from the Wespac Bank and has named the other members of the consortium. Foreign ownership rules restrict CanWest’s stake to 15%, but the other leading investors are Telecasters North Queensland (Ten’s affiliate in the northeast) with 40% and Audant Investments with 15%. With 10% […]

  • ynon-kreiz

    Media Exec Ynon Kreiz Named CEO of Mattel

    CanWest Global Communications has concluded the deal to buy Network Ten from the Wespac Bank and has named the other members of the consortium. Foreign ownership rules restrict CanWest’s stake to 15%, but the other leading investors are Telecasters North Queensland (Ten’s affiliate in the northeast) with 40% and Audant Investments with 15%. With 10% […]

  • courtney braun

    Courtney Braun Named Head of Legal Affairs for Endeavor

    CanWest Global Communications has concluded the deal to buy Network Ten from the Wespac Bank and has named the other members of the consortium. Foreign ownership rules restrict CanWest’s stake to 15%, but the other leading investors are Telecasters North Queensland (Ten’s affiliate in the northeast) with 40% and Audant Investments with 15%. With 10% […]

  • Randall Stephenson

    AT&T-Time Warner Trial: Randall Stephenson Takes Stand and Defends Merger

    CanWest Global Communications has concluded the deal to buy Network Ten from the Wespac Bank and has named the other members of the consortium. Foreign ownership rules restrict CanWest’s stake to 15%, but the other leading investors are Telecasters North Queensland (Ten’s affiliate in the northeast) with 40% and Audant Investments with 15%. With 10% […]

More From Our Brands

Access exclusive content