Australian-Media.com.au News

• Blackstone and Carlyle Group combine to bid for Ten

  May 3 2007 8:28pm (UTC+8)  -  Article by Pun

  Blackstone Group and Carlyle Group may both join forces and bid up to $2.7 Billion for the Ten network, which has stations in the nations five biggest cities. NBK Capital (the National Bank of Kuwait investment banking unit) has also shown interest.
  
  This comes after Merrill Lynch's buyout unit and San Francisco-based Hellman Friedman pulled out of bidding for the network, raising concerns that the price is far too high.
  
  CanWest Global Communications, the parent company of the Ten Network, has held out for more than $3 a share. The sale of the network may fall through if no agreement is reached in the coming weeks.
  
  Australian-Media.com.au