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Ten Network Holdings Ltd (ASX:TEN) says it has offered James Packer and Lachlan Murdoch directorships, following Mr Packer acquiring interest in the company.

Last month Mr Packer executed the purchase of an 18 per cent stake in Ten for over $250 million, and according to media reports Mr Murdoch is negotiating to acquire half of this stake.

Responding to media speculation, Ten says it welcomes interest from Mr Packer and his majority-owned company Consolidated Press Holdings, as well as from Mr Murdoch.

Ten believes the directorships are appropriate representations for the shareholding and says if the offer is accepted the board will comprise of ten directors.

Ten will also transition the current executive chairman role to a non-executive position and says it is prepared to discuss this appointment with both Mr Packer and Mr Murdoch.

Ten says it looks forward to reaching an agreement with Mr Packer and Mr Murdoch that is consistent with appropriate corporate governance and competition law requirements, as well as ongoing board stability and in the interests of all of Ten's shareholders.

Ten Network Holdings booked a turnaround profit of $150 million in the year to 31 August 2010, from a loss of $89.35 million in fiscal 2009.