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CBS will refinance Ten existing debt, including a $200 million loan to Commonwealth Bank and guarantor fees of about $30 million owed to James Packer, Mr Murdoch and Mr Gordon, and will implement a deed of company arrangement, according to KordaMentha. Creditors will be given the chance to vote on the deal at the second creditors meeting. CBS will also provide «immediate financial support to ensure continuity of operations» at Ten.

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