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Lachlan Murdoch partner in court to delay vote on CBS TV station buyout
September 7, 2017 / 3:01 AM / 2 months ago

Lachlan Murdoch partner in court to delay vote on CBS TV station buyout

SYDNEY, Sept 7 (Reuters) - A business partner of News Corp Co-Chairman Lachlan Murdoch filed a motion in an Australian court on Thursday seeking to stop a vote on CBS Corp’s planned buyout of a struggling local television station.

Murdoch and billionaire Bruce Gordon, an Australian regional television owner, controlled a combined stake of about a fifth in ratings laggard Ten Network Holdings Ltd when it called in administrators in June.

The pair had expressed interest in buying Ten but U.S. television giant CBS, the Australian network’s biggest creditor, surprised them by announcing on Aug. 28 it would instead buy Ten for an undisclosed sum.

Ten’s creditors, including CBS, were scheduled to vote on the CBS takeover at a meeting on Sept. 12, but Gordon and his related entities filed a motion on Thursday seeking to stop that meeting from taking place.

The matter was continuing on Thursday. (Reporting by Tom Westbrook, writing by Byron Kaye; Editing by Stephen Coates)

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