TEN 0.00% 16.0¢ ten network holdings limited

News: TEN CBS paying at least $162 mln cash for Australia's Ten Network

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    SYDNEY, Sept 11 (Reuters) - CBS Corp CBS.N will pay at least A$201.1 million ($162 million) in cash to buy Australian broadcaster Ten Network Holdings (TEN) , according to documents released on Monday by Ten's administrator.

    CBS, the United States' most-watched television network, said it agreed to buy Ten last month, but neither party disclosed a price tag at the time. The beleaguered broadcaster was placed in administration in June.

    Administrator KordaMentha released the financial details of the transaction after a rival bidder challenged the deal in court last week, alleging creditors had not been provided enough information about the competing offers by KordaMentha. ($1 = 1.2427 Australian dollars)

 
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