The Murdoch-Gordon interests announced a new increased bid on Friday – after the court case – but the 11th hour bid may have come too late. They will now need to convince the administrators and creditors to reconsider the enhanced offer at Tuesday’s creditor’s meeting. The administrators, KordaMentha, have recommended the CBS bid to creditors as the superior offer in two reports. The changes in the media ownership laws, which passed through federal parliament last week have also removed the legal impediments to the Murdoch-Gordon bid. The creditors’ meeting is scheduled for Tuesday.

Source: The Guardian September 17, 2017 23:53 UTC