Bruce Gordon Loses Court Appeal Against CBS’s TEN Takeover

Australian media mogul Bruce Gordon has failed in his latest attempt to stop Ten Network’s takeover by CBS.

Gordon, who owns the regional WIN Network, had sought a declaration that Ten’s administrators KordaMentha failed to give creditors vital information about a joint bid by Gordon and Lachlan Murdoch when it recommended a proposal by U.S. media giant CBS. Gordon was seeking orders for the second creditors’ meeting to be restrained.

The NSW Supreme Court ruled though that the meeting can proceed—and it’s expected that the creditors will vote on CBS’s takeover.

“It will be a matter for creditors at that meeting to determine whether [it] should be adjourned by reason of…any recent commercial developments, or for any other reason,” Justice Ashley Black said in his judgment.