share raid

Packer Buys into Media: Network Ten


Billionaire media mogul, James Packer bought into Ten Network (ASX:TEN) in a share raid, picking up 15.6 percent or $250 million worth of the media company's shares. The purchase was made through a Packer family private company Prime Capital, a subsidiary of his private company Consolidated Press Holdings. There is a rumour that Packer be pushing for a 20 per cent stake, a move that will allow him to seek board representation at the network.

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