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​CBS bid gets backing of Ten Network creditors

( September 19, 2017, 09:05 GMT | Insight) -- Creditors of Austalia's Ten Network today voted in favor of a bid from US media giant CBS, which increased its offer for the embattled media company on Monday, The Australian reports. Creditors of Austalia's Ten Network today voted in favor of a bid from US media giant CBS, which increased its offer for the embattled media company on Monday, The Australian reports. The developments come after Australian media moguls Bruce Gordon and Lachlan Murdoch submitted a revised offer for Ten on Friday in the wake of the passage of reforms to Australia's media laws. Ten administrator KordaMentha said the CBS deal was expected to be finalized in the coming weeks, subject to Foreign Investment Review Board approval....

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