Ten Network Holdings has played down speculation that it is close to sealing a deal that would see pay TV player Foxtel take a 14.9 per cent stake in the troubled broadcaster.
Foxtel is close to agreeing a deal with Ten that would see it inject about $85 million into the free-to-air-broadcaster, The Australian Financial Review reported on Monday.
But Ten says that while it is in talks with Foxtel about the terms on which it may potentially invest, the discussions may not result in a deal.
Ten says it will update the stock market when necessary and until then urges caution in dealing in its shares based on media speculation.
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