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Article: Embattled CanWest quits Ten.
- Article from:
- Australasian Business Intelligence
- Article date:
- September 23, 2009
CopyrightCOPYRIGHT 2009 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Brett Clegg and Jemima Whyte
Sep 23, 2009 (The Australian Financial Review - ABIX via COMTEX) -- CanWest is expected to sell its 50.1% stake in the Ten Network in response to the rising Australian dollar and a looming debt repayment deadline. The stake is expected to sell for around $A680m, with Ten's share price having closed at $A1.36 on 23 September 2009. Independent News & Media is also considering the sale of its 32% holding in APN News & Media, although the group's board is yet to agree on a strategy to reduce its $A2.34bn debt.
Publication Date: 24 September 2009
TEN NETWORK HOLDINGS ...