Ten's three billionaire shareholders have moved away from guaranteeing the television company's new $250 million loan following negotiations with the struggling free-to-air broadcaster.
Sources said Lachlan Murdoch and Bruce Gordon told Ten late on Friday evening they will not guarantee the new loan, leaving Ten looking for alternative avenues to secure funding needed to keep the company afloat.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
