Ten Network is yet to issue a statement on the reported resignation of its chairman Nick Falloon following James Packer's joining the company.

Nick Falloon has reportedly agreed to step aside to give way to changes at the broadcaster. According to The Australian, Mr. Falloon had agreed to resign in a meeting at Packer's Sydney offices yesterday.

Falloon had previously worked under James Packer's grandfather, the late Kerry Packer, at Publishing and Broadcasting Limited. He left the company after a disagreement in 2001.

James Packer is pushing for an overhaul of the network, following his acquisition of 17.88% of share in Ten Network Holdings, worth $280 million, through his Consilidated Press Holding.