Australia’s Ten Network shareholders voted Monday to accept a bid from CBS Corp. The “overwhelming” vote in favor of the bid was a loss for Lachlan Murdoch and Bruce Gordon, who had lost a court decision earlier that day to delay the creditors’ meeting.
Lachlan Murdoch and Bruce Gordon have failed in their legal bid to block CBS Corp. from taking over the insolvent Ten Network. The two had argued that their own bid wasn’t properly considered, but the Supreme Court in New South Wales dismissed the challenge. Murdoch and Gordon have said they’ll appeal the decision.
