Final court decision in Ten takeover due

A decision on the transfer of shares in Ten Network to US broadcaster CBS is due to be handed down by justice Ashley Black on Friday.

A Supreme Court judge is due to hand down his decision on the transfer of Ten Network's shares to US media giant CBS, marking the crucial final stage of the $41 million takeover over the troubled free-to-air broadcaster.

A hearing in the NSW Supreme Court in Sydney concluded last Thursday, following days of delays made by three minor shareholders who opposed the transfer of shares - a deal which would leave them empty-handed.

Justice Ashley Black's decision over the transfer of shares to CBS is the final step in the takeover of the embattled broadcaster, which began when the troubled network slipped into voluntary administration on June 16.

The CBS offer trumped a takeover attempt by the billionaire Ten shareholders Lachlan Murdoch and Bruce Gordon and was almost unanimously backed by Ten's creditors including the broadcaster's employees, at a meeting in September.

Source AAP

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