Another player emerged in the ongoing Channel Ten share market swing drama as a note lodged to the Australian Securities Exchange on Friday showed that Birketu Pty Ltd moved to increased its stake on Ten Network Holdings Ltd (ASX: TEN)

Controlled by WIN Television owner Bruce Gordon, Birketu upped its 11.96 percent interest on Channel Ten to 13 percent and ASX records had reflected that the upward surge transpired from September 2 to October 20.

The share-lifting move made by the Bermuda-based investor on Ten Network was followed by rumours that Mr Gordon entered the fray to throw his support on gambling mogul James Packer, who raided the company's shares this week and sparked speculations of takeover possibilities.

Stories of alleged changes planned by Mr Packer to implement on Channel Ten operations also whirled around and Mr Gordon's entry gave rise to impressions that the WIN television operator, along with fund manager Perpetual Ltd, would back the rumoured modifications.

Mr Packer's new investments poured on Channel Ten was welcomed by executive chairman Nick Falloon but insisted that the 18 percent stake now held by his former boss would not be enough to reprogram the company current emphasis on news and current affairs coverage.

His contention was supported by new projections from analysts who said that Mr Packer may encounter difficulties in infusing his biddings on Channel Ten, adding that a full-scale takeover bid would need close to $2 billion start-up fund to be realised at all.

While industry experts agreed that the billionaire Mr Packer would attempt to seek a board seat, he would require a much deeper pocket and a solid plan to push forward his intended changes on Ten Network.

However, in light of the positive financial results released by Channel Ten on Thursday and its spirited defence of its already in-placed news and multi-channelling strategy, most analysts could only second guess how Mr Packer would be able to advance his plans.