re: Ann: Eye Corp sale agreement termination ... On 20 July...

re: Ann: Eye Corp sale agreement termination ... On 20 July 2012

"Ten Network Holdings (ASX: TEN) (“TEN” or the “Company”) today announces it has entered into an agreement to sell EYE Corp Pty Limited (“EYE”) to Outdoor Media Operations Pty Limited (“OMO”)...


...This will comprise gross cash proceeds of up to $120 million at completion and deferred consideration of $25 million payable three years post completion."

Now Champ have pulled out totally. I gues zero is somewhere in the scope of "up to" $120 million.

That's a "no" from me on the remuneration report. News appears to be taking TEN over by proxy, and the next thing we will see is a change of director's interest for Lachlan increasing his share "because he believes in the future of the company".

Next stop privatisation. I wonder if Champ would consider the financing for the privatisation. Wouldn't that just put the icing on the cake.