The best part of this story is that they changed the media laws...

The best part of this story is that they changed the media laws to try and buy a company that they now can't have. The potentials are endless but here is a couple I think are more interesting to speculate on.
1. CBS could cut out Gordon from regional supply of media and instead buy out prime media.
2. Channel 9 and Fairfax get married to avoid purchase by Murdoch and at the same time get economies of scale to compete against him.
3. CBS use the ten spectrum for high speed streaming over 4g and create a real Foxtel competitor.

The problem for Murdoch is that he needs a TV station because he was stupid enough to get the laws changed and the only option is channel 7. A station owned by a man who would no doubt remember the time Murdoch screwed him on his pay tv network like it was yesterday. His only leverage is that channel 7 currently has no friends in the game of mergers.

Can't wait for the purple wedding episode in this saga...