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CBS takeover of Network Ten a defeat for Murdoch, Gordon

Media ownership Television Digital television Streaming services Australia

American broadcaster CBS has beaten out billionaires Lachlan Murdoch and Bruce Gordon to buy Network Ten.

The deal will see CBS introduce its own video on demand service.

It will also provide much-needed capital that will improve Channel Ten's prospects of not only retaining rights to Big Bash cricket, but even of challenging for the rights to a major football code.

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