When Network Ten's billionaire shareholders James Packer, Bruce Gordon and Lachlan Murdoch guaranteed a $200 million loan for the television network in 2013, they put in a place a safety net that could hand them control of the company in the event of a default.
An independent expert's report by Deloitte reviewed the $200 million loan in 2013 ahead of a vote to approve the facility at the company's annual general meeting in December that year.
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Anne Hyland is an award-winning writer and a senior correspondent for The Sydney Morning Herald and The Age. She was previously deputy editor of Good Weekend and has worked for The AFR and as a foreign correspondent. Connect with Anne on Twitter. Email Anne at ahyland@smh.com.au
