The Ten Network has declined to comment on a report claiming media mogul James Packer has launched a share market raid on the broadcaster, snapping up a 15 per cent slice of the company.

A News Ltd website report said it was understood investment bank UBS was acting on Mr Packer's behalf, offering $1.50 per share via Prime Capital after the close of share market trading.

Shares in Ten closed steady at $1.41 on Tuesday. At $1.50 a share, a takeover bid would be worth $1.57 billion.

A Ten spokeswoman declined to comment on the report, while UBS was being sought for comment.

Mr Packer earlier this month tightened his grip on Consolidated Media Holdings, of which he is the deputy chairman, by lifting his stake to 49.67 per cent, from 47.92 per cent previously.

This came a day after rival media mogul Kerry Stokes increased his stake in Consolidated Media to 24.4 per cent, from 23.3 per cent, via the billionaire's investment vehicles including Australian Capital Equity.

Mr Packer and Mr Stokes began tussling for Consolidated Media, which holds online and pay television assets, mid last year.

- AAP