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​Ten Network administrator holds out hope for media ownership reforms

( June 27, 2017, 03:49 GMT | Insight) -- The administrator of embattled Australian media company Ten Network will try to delay a meeting of creditors due next month in the hopes that long-awaited media ownership reforms will be passed by parliament, The Australian reports.  The administrator of embattled Australian media company Ten Network will try to delay a meeting of creditors due next month in the hopes that long-awaited media ownership reforms will be passed by parliament, The Australian reports. Although administrator Mark Korda said the company could be recapitalized under existing laws and that a number of potential acquirers had already expressed interest, reforms aimed at relaxing media ownership rules would be better for a long-term viable business. In the meantime, three Australian business magnates who own a combined 29.7 percent of the company — Lachlan Murdoch, Bruce Gordon and James Packer — plan to support it financially until a buyer is found, according to Reuters. ...

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