CBS's dramatic and surprising takeover of Network Ten has more episodes to come, with the American giant needing to convince creditors, courts and a federal regulator that its bid is the best option for the company.

• COMMENT

In terms of corporate strategic cock-ups the Murdochs must be in the running for this year's first prize for their failed attempt to snare ownership of Ten Network.

• UPDATED

US broadcasting titan CBS will buy Network Ten, it has been announced.

Prime Media is pessimistic about the future of regional television despite posting a 163 per cent increase in profit for the past financial year.

Lachlan Murdoch and Bruce Gordon are a step closer to buying Network Ten after the competition watchdog said it would not oppose their takeover.

Nine expects to work as hard as a Ninja Warrior this year just to keep its earnings steady amid the continuing decline of advertising dollars going to television.

• COMMENT

If a Foxtel IPO happens, the stakes are high for Telstra, News Corp and the ASX.

Fresh from delivering a rare strong profit for a media company, Southern Cross Austereo will take a plunge into the fast-growing digital billboard market.

Vocus Group, which owns the iPrimus and Dodo broadband brands, has assured investors it will not breach its debt covenants in the next 12 months.

Seven Group Holdings' shareholders have ignored writedowns in its struggling TV arm to push the company's share price up sharply as it flagged strong growth from mining services and announced the sale of its WesTrac business in China.

• COMMENT

Oh the irony – the Murdochs wanting Australian media ownership laws changed has become the biggest hurdle to changing Australian media ownership laws.

Internet providers should "immediately" change their advertising for National Broadband Network speeds, according to new guidance issued by the competition watchdog.

Telecommunications group Vocus has terminated talks with private equity firms Kohlberg Kravis Roberts (KKR) and Affinity Partners, both of which were offering $3.50 a share for a full takeover.

APN Outdoor has reported another increase in revenue as it upgrades more billboards to digital and increases advertising sales in New Zealand.

This week Telstra attempted to clean house

Australian and Hollywood film studios and pay TV provider Foxtel have dealt a blow to internet piracy after the Federal Court ordered a raft of pirate websites be blocked in the country.

Investors made little attempt to snap up Telstra stock on Friday, despite the severely depressed share price.

Telstra is prepared to sell down its stake in a combined Foxtel-FoxSports to facilitate a float of the new business in the coming years, chief executive Andy Penn says.

Without the free publicity from the US president, the social media company could lose almost a fifth of its value, an analyst report has found.

As movie theatres struggle with tepid sales, Mitch Lowe has an extreme proposal for how to get more people into seats: Let them come to all the sessions they want - for about the price of a single ticket each month.

News Corp and Telstra are planning to list Foxtel on the stock market and to prepare that move have announced they will merge the subscription television service they jointly own - Foxtel - with News' sports network Fox Sports. 

• COMMENT

For the 1 million or so Australians who own Telstra shares, as well as its many customers, its new focus on financial engineering should be a wake-up call.

• UPDATED

Seven West Media reported a $745 million loss for the full year due to a $989 million impairment.

Management revealed new details of the Domain demerger as it delivered a $97 million net profit for the full year on Wednesday.

Online job-search company Seek has lifted revenue and underlying profit as long-term investments in its Australian and New Zealand arm begin to show promise, but its profit disappointed.

• COMMENT

There is good reason some of the smartest investors on Wall Street are betting on Netflix's decline. But they're missing one key factor.

Pauline Hanson's One Nation party has given the government's media reforms "conditional support" in exchange for a $12 million boost to community radio funding and changes to the ABC.

If you are only paying $30 a month for the NBN, don't expect a super fast experience, especially at peak hours, when you are most likely to actually want to use the internet. 

• EXCLUSIVE

Ten's directors knew for at least four weeks before the company's collapse that James Packer was not going to guarantee a new loan, but failed to pass this information on to shareholders.