Rinehart, Murdoch lift stakes in Ten

Gina Rinehart and Lachlan Murdoch have increased their respective stakes in Ten, according to statements sent to the Australian Securities Exchange.

Ten has said both shareholders have bought more stock in the company, with Rinehart now holding a 10.6% stake through her subsidiary Hanrine Investments.

Murdoch, who is the company’s chairman, lifted his stake from 186 million shares to 256 million. The purchase was made through two separate subsidiaries – Illyria Nominees Television, and Cavalane Holdings.

“Mr Murdoch has a relevant interest in the shares in Ten Network Holdings Limited held by Cavalane as he controls Illyria,” the statement read.

The shares have been purchased as part of Ten’s $200 million capital raising.

This article first appeared on SmartCompany.