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Hamish McLennan acquires TEN shares
Incoming TEN CEO Hamish McLennan has invested more than $900,000 in shares in TEN.
- Published by David Knox
- on
- Filed under News
Incoming TEN CEO Hamish McLennan has invested more than $900,000 in shares in TEN.
A statement from the company reveals:
TEN Network Holdings Limited (ASX: TEN) (“TEN”) announced its new Chief Executive Officer, Hamish McLennan, had advised that he had acquired 3.13 million TEN shares on market.
Mr McLennan said: “As I indicated in the statement to market on Friday regarding my appointment, I believe TEN is a great business. As a sign of my enthusiasm for TEN, I have personally invested in the company. I look forward to sharing in the future success of TEN.”
Mr McLennan is due to formally commence at TEN on 18 March, 2013.
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13 Responses
TEN shares are already up 4c since Monday morning. The new guy knows what he’s doing in that respect.
News has less connection with Channel 10 than with Channel 9, with whom they did joint deals for cricket, @l^mp!cs and the NRL. Or Channel 7 with whom they have a joint deal for the AFL, which they conspired to cut Channel 10 out of.
Don’t believe the self-serving conspiracy theories of Milne.
Smart move, got them before they spiked up!!
$900,000 worth of Ten shares! Surely he’s bought the whole thing several times over.
Now that Ten is effectively in bed with News Corp I wonder if they’ll give any thought to what was rumoured years ago – Sky News on ONE. They already give it away for free on Foxtel’s Go app and on a few News Ltd websites. Sure, Sky being substantially owned by 7 and 9 would be a dilemma.
Can I put my shares worth in please which is $000.00.
But after the rumours of today, claiming a possible News Corp? or Limited? buy in.
Just where do the boundaries of insider trading come into effect?
He’s a fool. Why would you back a horse thats coming 4th in a 4 horse race.
a fool and his money are easily parted
Ten shares are only worth about as much as a mintie. And he certainly doesn’t have to worry about buying in at the top!
Most CEOs would hold stock in their company, though they usually receive them as part of their salary or bonus structure.
Great to see he has extra incentive for ch10 to succeed. Now maybe he could buy a big slice of Lachlan’s stake
Correct me if I’m wrong but does that mean that with such a large personal investment in the company, he will try extra hard to turn Channel Ten’s fortunes around? That must be a first for a new CEO and can only be a good thing.
Not the first time.
He’s a brave man.