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Time Warner may spend $588 million on Australia's Network Ten, report says — mashable.com

It is a deal that could see the face of Australian television change forever. Time Warner has reportedly got its eye on the struggling Australian television channel Network Ten — in a potential A$680 million (or $588 million to the U.S. company) takeover bid. The Australian Financial Review (AFR) reported on Monday that the American media company had indicated in a letter sent to Citi, Network Ten's banking adviser, it would be prepared to pay 25 cents a share for the local TV network — which adds up to roughly A$680 million for a majority stake.

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