Oracle Billionaire Larry Ellison Is New Owner of Network Ten

Larry Ellison, the world’s fourth-richest man and co-founder of software company Oracle, will become the new majority shareholder of Network Ten after a group led by his son David finalises a deal for its parent company, Paramount Global.

The elder Ellison is backing his son’s proposal to buy the Redstone family’s stake in National Amusements, the entity that owns a majority of Paramount’s voting stock. The deal is worth more than $US8 billion ($11.9 billion).

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