Aussie TV Network Reaps $150M From Ad Unit Sale

Law360, New York (July 20, 2012, 8:32 PM EDT) -- Television station Ten Network Holdings Ltd. will unload its outdoor advertising unit to a company controlled by Australia’s Champ Private Equity in a deal that values Ten’s Eye Corp. Pty. Ltd. at up to AU$145 million (US$150.4 million), the network said Friday.

Upon closing, Ten will help Champ’s Outdoor Media Operations Pty. Ltd. sell off Eye Corp.’s U.S. and British operations, according to a statement from the network. The buyer plans to retain the Australia, New Zealand and Indonesia pieces of the advertising company, and if...
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