Incoming Network Ten (ASX:TEN) chief Hamish McLennan has publicly slammed potential merger partners Nine Entertainment Group and Southern Cross Media, for a second time in two days.
Mr McLennan claims a proposal document depicting a hypothetical new corporate structure is floating around. He says that suggests Nine has failed to meet its continuous disclosure obligations as a listed entity.
With just days before the Parliament votes on the controversial legislation, tensions are running high for the big media players. Especially as Independent MPs begin publicly rejecting the Governments plans.
Ten Network holdings posted a $4.2 million net loss to August 31 2012.
TEN Price at posting:
34.5¢ Sentiment: None Disclosure: Held
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