Ten network shares are up another 18% today as takeover speculation continues about the free-to-air television group.
The shares hit $0.273, up around 18.48%.
This is on top of a 7% jump yesterday when Ten announced it had appointed Citi as an adviser on its strategic direction.
However, the share price is still a long way from the $1.45 from four years ago.
Ten lost $168.3 million in the year to the end of August.
Media reports speculated that the US giant Discovery Communications and Australia’s Foxtel are considering a bid.
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.
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