CBS Corporation Completes Ten Acquisition

CBS Corporation has completed its acquisition of Network Ten, after announcing a deal to acquire the Australian broadcaster in August.

“The closing of this acquisition marks the beginning of an exciting opportunity to build and expand on our close working relationship and the great legacy of Network Ten in Australia, and to paving the way for further multiplatform distribution opportunities for CBS content,” said Leslie Moonves, chairman and CEO of CBS Corporation. “I believe our ownership helps ensure that Network Ten’s business will grow long-term, while also benefiting the Australian media sector as a whole. We look forward to welcoming Ten and its employees to the CBS family.”

Paul Anderson, CEO of Ten Network Holdings, said: “We are delighted that the purchase of Ten by CBS Corporation, one of the largest and most successful media organizations in the world, has been finalized.

“CBS and Ten have had a strong relationship for many years. We look forward to expanding and strengthening that relationship, and working closely with CBS to build Ten’s presence in the Australian media industry.”

The deal encompasses the core linear channel TEN as well as the DTT channels ELEVEN—which CBS already had a stake in—and ONE and the digital platform TENPLAY.