Embattled Australian broadcaster Ten Network Holdings is having its tyres kicked by offshore private equity firms.
The AFR reports this morning that “Providence Equity Partners has begun running the numbers on a potential bid for Ten’s equity and debt.”
Ten has been under pressure for some time now as its stable of winners like MasterChef and Offspring is more than outweighed by troubled ratings in its News division and a general lack of advertising revenue.
It is believed that Providence Equity is interested on the basis of mooted Government changes to the cross media ownership laws.
The AFR says that internal sources believe that Ten has a better chance of surviving intact if it is “taken private”.
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