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Disruption unleashes on Australia’s TV industry

Television remote

Australian television is in for a massive shake up in the near future following news American media giant CBS has purchased Channel 10.

In a statement to the ASX, Ten Network Holdings said it had entered into “binding transaction documents” for CBS to acquire the struggling broadcaster, for an undisclosed sum.

It comes after Channel 10 was placed in voluntary administration in mid-June.

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CBS, a major broadcaster and content producer in the US, has supplied the network with US programs for almost 20 years. Yet the acquisition of Ten allows it to launch foreign service offerings and delivery methods into Australia and shake up the dynamic of Australia’s three commercial broadcasters.

“This acquisition not only presents CBS with considerable broadcasting opportunities in Australia, but also allows for further multi-platform distribution and growth,” CBS Studios International president Armando Nunez said.

Among that multi-platform distribution will be the launch of its digital subscription video-on demand service, called CBS All Access.

This will pit the free-to-air broadcaster against the likes of Netflix and Telstra’s equivalent program Stan, and may also impact on pay-TV provider Foxtel’s market share.

Adam Zuchetti

Adam Zuchetti

Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016. 

The two-time Publish Awards finalist has an extensive journalistic career across business, property and finance, including a four-year stint in the UK. Email Adam at This email address is being protected from spambots. You need JavaScript enabled to view it.

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Disruption unleashes on Australia’s TV industry
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