Ten executive chairman Nick Falloon on Thursday said the company would not comment on media reports regarding the Consolidated Media Holdings Ltd deputy chairman's purchase this week of a 17.88 per cent stake in Ten through his private firm Consolidated Press Holdings.
"There has obviously been much speculation in the past few days and we obviously acknowledge that we now have a new major shareholder," Mr Falloon told reporters and analysts during a teleconference.
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"We welcome their interest in our company and return to the free-to-air industry. We take that as a positive for our other shareholders.
"It has been widely reported in newspapers that James Packer is overseas at the moment.
"We have had a brief conversation and will get together at some stage in the near term, but today I do not propose to speculate on any of what has been in the newspapers about those changes."
Media reports suggest Mr Packer may seek to increase his stake in Ten further, but was unlikely to launch a takeover bid.
"Today is about our performance and our results," Mr Falloon said.
Ten on Thursday reported a net profit for the 12 months to August 31 of $150.007 million, a reversal from a net loss of $89.35 million in the same period last year.
