Traffic delays Rinehart's arrival at Ten
Sydney traffic snarls have delayed billionaire Gina Rinehart from arriving on time at the Ten Network's annual meeting for shareholders.
Although a name card for Mrs Rinehart, a Ten board member, was placed between those for fellow directors Paul Gleeson and David Gordon, the billionaire's seat was vacant when the meeting began at 1100 AEDT on Thursday.
Ten chairman Lachlan Murdoch was also at the meeting, despite his grandmother, Dame Elizabeth Murdoch, having died overnight aged 103.
Mr Murdoch said Mrs Rinehart was on her way but delayed by traffic and would arrive shortly.
Ten's annual report showed Mrs Rinehart, who holds 10 per cent of Ten stock, attended eight of the company's 14 board meetings during fiscal 2012.
The billionaire miner sent alternates to the other six meeting where she was not present.
The meeting is being held just hours after the troubled TV network announced it would cut an extra $35 million in costs and tap shareholders for $230 million in response to its recent poor performance.
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