Packer Coup Bad News for Sports Fans
James Packer is back in the business of television. The son of former Nine tycoon Kerry Packer, who sold Nine a number of years back, has made a major move to control the Ten Network. This week he is said to have launched at $250-million coup on the Ten Network which gives him a 17.88 per cent ownership share with that stake expected to be lifted to 19.9 per cent in the very near future. Packer is now the largest shareholder in Ten.
That move, however, spells bad news for sports fans wanting to watch sport on free-to-air television. Because there are now real fears OneHD will be replaced by Sky News.