BREAKFAST DEALS: Nine's theatrics

Worthy of a prime-time drama, Nine's ownership hinges on a battle between hedge funds and private equity, while Ten Network is touted as a potential target.

US hedge funds have thrown up a counter proposal for Nine Entertainment that would wipe out private equity owners, as the television network books a bumper August on the back of the Olympics. Ten Network didn’t do so well, underlining the challenges for any dealmakers eyeing up the network. Elsewhere, iron ore’s sudden recovery signs come as a welcome relief to Fortescue Metals Group, while Tower Australia could be set to reveal some interest that its receive in its assets.

Nine Entertainment, CVC Asia Pacific, Goldman Sachs, Apollo Global Management, Oaktree Capital

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