Caledonia Investments has been quietly building a stake in Ten Network, believing the broadcaster's following a ratings recovery over the summer

Caledonia Investments has been quietly building a stake in Ten Network, believing the broadcaster's following a ratings recovery over the summer. The high-conviction investor is understood to have acquired more than 10 million shares in recent weeks and is believed to be seeking more. The stock jumped 3c, or 8.96 per cent, to 36.5c yesterday, with Bloomberg reporting a large trade crossing mid-afternoon. The jump came after Ten's $90 million bet on Cricket Australia's Big Bash League delivered ratings gold, with million-plus audiences creating a marketing platform to build awareness of its coverage of next month's Sochi Winter Olympics in Russia. CCZ Equities have upgraded Ten earnings numbers to reflect a return to a 25.5 per cent revenue share by 2017. Full Report in The Australian (VIEW LINK)


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