Pay tv operator Foxtel has been given the green light by the Foreign Investment Review Board to buy a 15 per cent stake in free-to-air network Ten.
Ten said the FIRB told the network it would not oppose the deal, which was cleared in October by the competition watchdog.
Ten plans to use the $77 million it will receive from Foxtel to slash its debt.
Shares in Ten were 0.25 of a cent lower at 16.75 cents at 1159 AEDT while News Corp, which part-owns Foxtel, was one cent higher at $21.76.
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