SYDNEY: CanWest Global Communications Corp, Canada's biggest media company, has offered to sell Ten Network Holdings Ltd, seeking to cash in on the biggest shake-up in the Australian media in 20 years.
Ten agreed to help Winnipeg, Manitoba-based CanWest find a buyer for its 56.4% stake, the companies said in a statement yesterday. A buyer would have to make a takeover bid for all of Sydney-based Ten, Australia's third ranked network, which is valued at more than A$3.5bil, including debt.
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