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Rinehart, Murdoch take up Ten shares

Rinehart, Murdoch take up Ten shares

Tue June 26, 2012 3:55pm

GINA Rinehart and Lachlan Murdoch have taken up their entitlements in the Ten Network through the media company's recent fund raising venture.

Ten raised $200 million by issuing new shares to its investors earlier in June, and both Ms Rinehart and Mr Murdoch took up their entitlements in the offer.

But their purchase of new shares does not increase their interests in the company.

Ms Rinehart bought almost 39.2 million Ten shares for $19.99 million, and Mr Murdoch spent $35.7 million on 256.9 million new shares, notices sent to the Australian Securities Exchange (ASX) on Tuesday show.

Ms Rinehart holds a 10.6 per stake in Ten, and Mr Murdoch about nine per cent.

James Packer, who also holds about nine per cent of Ten shares, also took up his full entitlement in the offer.

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