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1. American broadcaster cbs has secured a deal to buy Australia's third-largest television network, Ten, the embattled station's administrators said Monday.
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2. cbs -- one of Ten's key content providers -- will fund the purchase by refinancing existing secured debt arrangements in full, the administrators said in a statement.
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3. The agreement came after cbs in July claimed debts of Aus$843 million from Ten in a submission to the network's administrators, Fairfax Media reported.
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4. The deal includes Channel Ten, digital channel One, digital platform Tenplay, and digital channel Eleven -- of which cbs already owns a 33 percent stake.
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5. cbs said it would also launch its digital on-demand service cbs All Access in the Australian market.
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6. Media analyst Peter Cox said cbs' challenge would be to try to keep a third commercial network in Australia viable, adding that a third broadcaster in Britain and New Zealand had not worked.
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