You will be redirected back to your article in seconds

CanWest reduces its Ten stake

SYDNEY — Izzy Asper’s CanWest Global Communications has agreed to sell a large chunk of its 76% interest in Oz’s Network Ten, after intense pressure from federal regulators. CanWest will sell $219 million-$365 million worth of its stake.

Late last week, the Canadian company, along with locally controlled Ten regional affiliate Telecasters North Queensland (TNQ), unveiled a complex pact. Under the plan, TNQ will acquire 18.7% of CanWest’s 76% equity in Ten — which has been ruled in breach of rules forbidding foreigners controlling TV webs or more than 15% of voting stock.

If approved by the Australian Broadcasting Authority and the Foreign Investment Review Board, the deal will bring the Canadian company back down to the 57.5% economic interest and 15% voting stake it held before a string of complex share deals in 1996 gave CanWest interests a 76% economic holding and 52% voting stake.

More TV

  • Discovery ATLF and the VCC

    How Discovery, TLC and Tegna Are Bringing Live Internet-Video Calls Into On-Air Broadcasts

    SYDNEY — Izzy Asper’s CanWest Global Communications has agreed to sell a large chunk of its 76% interest in Oz’s Network Ten, after intense pressure from federal regulators. CanWest will sell $219 million-$365 million worth of its stake. Late last week, the Canadian company, along with locally controlled Ten regional affiliate Telecasters North Queensland (TNQ), […]

  • Jack Black Gus Van Sant movie

    ABC Developing Small Town Serial Killer Comedy With Jack Black Producing

    SYDNEY — Izzy Asper’s CanWest Global Communications has agreed to sell a large chunk of its 76% interest in Oz’s Network Ten, after intense pressure from federal regulators. CanWest will sell $219 million-$365 million worth of its stake. Late last week, the Canadian company, along with locally controlled Ten regional affiliate Telecasters North Queensland (TNQ), […]

  • No Merchandising. Editorial Use Only. No

    High-End Italian TV Shows 'Django,' 'Devils' Set to Fly With Sky Italia (EXCLUSIVE)

    SYDNEY — Izzy Asper’s CanWest Global Communications has agreed to sell a large chunk of its 76% interest in Oz’s Network Ten, after intense pressure from federal regulators. CanWest will sell $219 million-$365 million worth of its stake. Late last week, the Canadian company, along with locally controlled Ten regional affiliate Telecasters North Queensland (TNQ), […]

  • Roy Price Amazon Studios

    Roy Price Resigns From Amazon Studios

    SYDNEY — Izzy Asper’s CanWest Global Communications has agreed to sell a large chunk of its 76% interest in Oz’s Network Ten, after intense pressure from federal regulators. CanWest will sell $219 million-$365 million worth of its stake. Late last week, the Canadian company, along with locally controlled Ten regional affiliate Telecasters North Queensland (TNQ), […]

  • Lena HeadeyHBO's 'Game Of Thrones' Season

    'Game of Thrones' Star Lena Headey Says Harvey Weinstein Sexually Harassed Her

    SYDNEY — Izzy Asper’s CanWest Global Communications has agreed to sell a large chunk of its 76% interest in Oz’s Network Ten, after intense pressure from federal regulators. CanWest will sell $219 million-$365 million worth of its stake. Late last week, the Canadian company, along with locally controlled Ten regional affiliate Telecasters North Queensland (TNQ), […]

  • HBO Adds Foreign-Language Dramas to U.S.

    International Newswire: HBO Adds Foreign-Language Dramas to U.S. Service

    SYDNEY — Izzy Asper’s CanWest Global Communications has agreed to sell a large chunk of its 76% interest in Oz’s Network Ten, after intense pressure from federal regulators. CanWest will sell $219 million-$365 million worth of its stake. Late last week, the Canadian company, along with locally controlled Ten regional affiliate Telecasters North Queensland (TNQ), […]

  • Bob Weinstein

    Bob Weinstein Accused of Sexual Harassment by TV Showrunner

    SYDNEY — Izzy Asper’s CanWest Global Communications has agreed to sell a large chunk of its 76% interest in Oz’s Network Ten, after intense pressure from federal regulators. CanWest will sell $219 million-$365 million worth of its stake. Late last week, the Canadian company, along with locally controlled Ten regional affiliate Telecasters North Queensland (TNQ), […]

More From Our Brands

Access exclusive content