Just hours after media reforms passed the Senate, Lachlan Murdoch and Bruce Gordon have lodged a fresh bid for Network Ten, increasing their offer for creditors of the troubled broadcaster pool from $35 million to $55 million. 

The media moguls said on Friday in a proposal put to Ten's administrator that their new offer had a "single implementation path" and "lower transaction risk" than their previous bid, thanks to the Senate voting 31-27 in favour of lifting ownership restrictions on Thursday night. 

The laws must still return to the House of Representatives in October to approve amendments before heading back to the Senate, but the voting outcome is likely to be the same. 

Under the new offer from Mr Murdoch and Mr Gordon's investment companies, Illyria and Birketu, employees and continuing trade creditors would receive 100¢ in the dollar and all other creditors would get 5.75¢ in the dollar. 

However, Ten's administrator has already selected CBS's bid for Ten, with creditors due to vote on the US broadcaster's offer on Tuesday. It is unclear whether KordaMentha will present the new offer to creditors. 

CBS is the largest creditor of Ten and is owed $348 million. It will receive $20 million under the revised offer. CBS would have received $7.4 million under the original Birketu/Illyria offer. 

Birketu has already successfully applied to the NSW Supreme Court for a temporary delay in the creditors' meeting and is now insisting creditors are also given details of the new Birketu offer. 

More to come