The US private equity firm Saban Capital Group has emerged as the latest suit for the troubled Ten Network.
The Australian Financial Review says it’s understood the Los Angeles-based media and communications industries specialist Saban has met with the management of the free-to-air network.
Foxtel and the giant US media group Discovery Communications are also looking at a bid, at least for part of Ten.
The TV network has appointed Citi as a strategic advisor.
Ten’s shareholders include some of Australia’s wealthiest, including mining billionaire Gina Rinehart who has stepped down from the board of directors at Ten but maintains her 10% holding in the company.
Others include casino operator James Packer, media player Lachlan Murdoch and television industry pioneer Bruce Gordon.
Ten’s shares are up around 25% since the reports of a possible takeover emerged. The shares are trading at $0.265.
Ten lost $168.3 million in the year to the end of August.
Business Insider Emails & Alerts
Site highlights each day to your inbox.