New documents reveal the billionaire will control 77.5 per cent of Network Ten’s ultimate owner. This does not end the uncertainty for the home of MasterChef.
Larry Ellison, the world’s fourth-richest man and co-founder of software firm Oracle, will be the new controlling shareholder of Network Ten after a group led by his son David completes a deal for its parent company, Paramount Global.
Filings with the Federal Communications Commission reveal Larry Ellison will own 77.5 per cent of National Amusements through a trust and series of corporations. The rest will go to an entity affiliated with RedBird, as first reported by Bloomberg.
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