Today, our CEO, Matthew Deaner, welcomed reports that CBS has entered into a binding agreement to purchase Network Ten.
“I welcome news that CBS intends to buy Network Ten. This reported deal demonstrates that despite significant pressures, our market remains robust and competitive. It is a meaningful display of confidence in the Australian industry. Having a strong third commercial free to air network is important for competition, important for Australian audiences that benefit from Australian and children’s content obligations and important for Australian production companies who supply the market.”
“This news also comes at an important time for our industry. In the context of the Australian and children’s content review, it highlights the importance of content obligations in safeguarding our market from dumping of content from other English-speaking jurisdictions. The news that CBS intends to bring with it a new streaming service shows that these content obligations need to be evolved to reflect new market realities.”