Rinehart buys large stake in Ten Network

Gina Rinehart has taken a substantial stake in the Ten Network after spending more than $165 million on shares over the last two weeks.

A substantial shareholder notice lodged with the Australian Securities Exchange this afternoon revealed Mrs Rinehart started building her stake in the televisions station through Hancock Prospecting on November 10.

The largest share purchase was made today when she acquired more than 26 million ordinary shares for $43,179,344.

She now holds a 10.01 per cent stake in the TV station.

Last month, James Packer took an 18 per cent stake in the Ten Network.