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Falloon set to step down as Ten chairman

SYDNEY - James Packer and Lachlan Murdoch have won their bid to wrest the chairmanship of Ten's board from Nick Falloon.

The network this afternoon put out a statement saying Falloon is willing to step down next month and leave the media company. But the Ten board is so far refusing to budge on giving Packer and Murdoch more than two seats on the enlarged ten person board following the investment from Packer’s Consolidated Media Holdings.  

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