Australia's Ten Network chairman to step down after abortive Hellman & Friedman MBO: reports
Nick Falloon, the executive chairman of Australia's Ten Network, has offered to step down following a share raid by James Packer and Lachlan Murdoch that secured 18% of the company in the wake of a rumored privatization plan by Falloon and US PE firm Hellman & Friedman, according to reports in the Australian press.
Hellman & Friedman chairman Brian Powers, a longtime associate of Falloon who worked under him at CVC-invested Channel Nine, according to AVCJ sources, was in Australia to lead the deal, prompting the...
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