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Tuesday, December 2, 2014

Australia's Ten Network confirms numerous takeover approaches, (NASDAQ: DISCA), (NASDAQ: DISCK)

Australian television broadcaster Ten Network Holdings Ltd said it has received takeover approaches from "a number of parties" following earlier media reports. In a statement on Wednesday, Ten said Citigroup, which it hired last month to help decide its future ownership, received "non-binding, conditional proposals from a number of parties in relation to transactions which ... could result in a change of control of Ten".Ten, which had the lowest ratings of Australia's three commercial broadcasters, said a board committee will now consider the proposals with Citigroup. It did not name the parties which made proposals.On Tuesday, local media reported America's Discovery Communications and a local cable TV operator are preparing a bidLocal media also said Discovery and Australian pay-TV company Foxtel, which is half owned by Rupert Murdoch's News Corp, will offer between A$0.20 and A$0.25 a share for Ten, valuing it at A$510 million-A$664 million ($431 million-$561 million).

Discovery Communications, Inc. (Discovery) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide. Shares of DISCA traded higher by 0.66% or $0.23/share to $34.92. In the past year, the shares have traded as low as $31.29 and as high as $46.38. On average, 4095480 shares of DISCA exchange hands on a given day and today's volume is recorded at 1558161.

Discovery Communications, Inc. (Discovery) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide. Shares of DISCK traded higher by 0.97% or $0.33/share to $34.31. In the past year, the shares have traded as low as $31.02 and as high as $44.00. On average, 2913240 shares of DISCK exchange hands on a given day and today's volume is recorded at 1673380.



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