CBS Squeezes Out Murdoch to Snap Up Ailing Australia Network – Bloomberg
CBS Corp. agreed to buy struggling Australian broadcaster Ten Network Holdings Ltd., gaining an overseas platform for its video-on-demand service and squeezing out a potential bid by News Corp. Co-Chairman Lachlan Murdoch. The deal saves Ten Network from collapse, after the New York-based media giant pledged immediate financial support to keep it running. The most-watched U.S. network enters a…