Pay TV provider Foxtel has approached the competition regulator about its interest in a stake in the Ten Network.
A number of suitors have submitted takeover and refinancing proposals to the embattled free-to-air broadcaster, which it is now considering.
The Australian Competition and Consumer Commission (ACCC) confirmed on Friday that Foxtel was among them, following speculation it had formed a consortium with US cable company Discovery.
"The ACCC confirms that it has been approached by Foxtel (regarding) this possible transaction and will begin a public review if the transaction progresses," it said in a statement.
The Foxtel-Discovery bid reportedly offers 23 cents a share, valuing Ten at $605 million.
Ten shares were steady at 20 cents on Friday.
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