Kerry Stokes.
Media mogul Kerry Stokes has reportedly sold his 2% stake in Ten Network Holdings, only two months after his investment went public.
It was revealed at the end of last year Stokes purchased 2% - or 22 million shares - of Ten Network Holdings through Seven (WAN) Pty Ltd.
He joined fellow heavy-hitters James Packer, Lachlan Murdoch, Bruce Gordon and Gina Rinehardt as a Ten investor.
It was unclear exactly why the share had been bought. As chairman of Seven Group, Stokes interests lie with one of Ten's primary competitors.
According to the Australian Financial Review, Stokes is either no longer a shareholder, or is shielding his investment through a nominee company. Seven (WAN) Pty Ltd is no longer a shareholder.
The company had paid 92.5 cents per share.
The news comes as former Seven sales boss James Warburton enters Ten as chief executive. Last year, the company was hit with widespread cost-cutting and massive job losses.
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