Ten's sale of eye corp back on
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Eye Corp: going for $110m? A deal between Ten and the owner of Eye Corp looks to be back on the cards, with Outdoor Media Operation placing a bid of around $110m for the outdoor ad firm. Ten
confirmed news reported in the Australian Financial Review this morning, stating that the reported figure of $110m is “approximately” correct. Ten came to an agreement with OMO to sell Eye
Corp for $145m in July, having put the business up for sale in March. ADVERTISEMENT The deal has yet to be finalised. An announcement from Ten reads: > Ten Network Holdings Limited
(ASX:TEN, “TEN”) refers to the > article in today’s Australian Financial Review entitled “Ten > receives $110m offer for EyeCorp” and confirms that it has > received an offer of
approximately this amount from Outdoor Media > Operations Pty Limited (“OMO”), a company controlled by CHAMP > Private Equity. > > The offer is subject to final negotiation of
the revised terms of a > share sale agreement between TEN and OMO. > > It is anticipated that the final sale price will be subject to the > outcome of these further
negotiations. It was reported last week that the deal had hit the rocks, with OMO sending Ten a termination of notice.