Markets

The Ten Network is being sold to America’s CBS

CBS Corporation, the US broadcaster, is buying Australia’s Ten Network. Billionaires Lachlan Murdoch and Bruce Gordon, both significant shareholders in Ten, had been expected to end up as full owners. The network went into voluntary administration in June after the two shareholders refused to increase or extend a $200 million […]
The Ten Network is being sold to America’s CBS
Markets

Lachlan Murdoch and Bruce Gordon are closer to taking control of Ten Network

Billionaires Lachlan Murdoch and Bruce Gordon are pushing ahead with plans to take control of the free-to-air Ten Network which went into voluntary administration last month. Consumer watchdog the ACCC (Australian Competition and Consumer Commission) has confirmed it has a request from the private holding companies of the two: Murdoch’s […]
Lachlan Murdoch and Bruce Gordon are closer to taking control of Ten Network
Markets

The Ten Network just got a $30 million lifeline

The newly appointed receivers of the Ten Network have secured $30 million in funding to keep the free-to-air television business afloat, for the time being. Christopher Hill, Philip Carter and David McEvoy of PPB Advisory were appointed receivers and managers of Ten Network Holdings on Friday. In a statement today, […]
The Ten Network just got a $30 million lifeline
Markets

Media shares surge on the back of Ten Network’s fall

Shares in media companies surged after the Ten Network went into voluntary administration. At the close, Nine was up 6.2% to $1.365, Seven West Media 5.3% to $0.69 and Southern Cross Media 1.7% to $1.17. Ten continues to be in a trading halt. Ten called in administrators from Korda Mentha […]
Media shares surge on the back of Ten Network’s fall
Markets

The Ten Network is in administration

The Ten Network has gone into voluntary administration. The decision follows the refusal by two billionaire shareholders to increase or extend a $200 million credit facility past December. The company told the ASX on Monday that Illyria Pty Limited and Birketu Pty Limited, two shareholders which guarantee the company’s current […]
The Ten Network is in administration
Markets

Media company shares are soaring

Shares in media companies took off in early trade on the ASX. The federal government has foreshadowed changes to media regulation including the elimination of the “two out of three” rule, meaning one company would be able to own metropolitan newspapers, television and radio stations in any capital city. The […]
Media company shares are soaring
News

Russel Howcroft quits Ten for PwC

Russel Howcroft, one of the key contributors to ABC TV’s Gruen Transfer program, is leaving the Ten Network to become chief creative officer at the big professional services firm PwC. The media, brand and marketing expert, who joined Ten in 2012 as executive general manager, will also be a key […]
Russel Howcroft quits Ten for PwC
Markets

The Ten Network: Fake news is just another name for lies

Ten Network chairman David Gordon today criticised the fake news trend and the apparent inability of big social media companies to monitor the truth. He didn’t name the social media companies but appeared to be taking aim at Facebook which has been singled out for unchecked fake news, spreading untruths […]
The Ten Network: Fake news is just another name for lies
Markets

Ten Network shares are being smashed

Shares in the Ten Network were being hammered after the free-to-air television broadcaster posted another loss. A short time ago, the shares were down nearly 18% to $1.165. Ten today recorded a full year loss of $156.8 million despite a 5.4% rise in revenue to $689.5 million. Much of the […]
Ten Network shares are being smashed
Markets

The Ten Network is back in profit

Ten posted a $13.375 million half year profit as the free-to-air network grew its audience and benefited from a deal with Foxtel. The result was achieved in the face of a weak national advertising market and compares to a loss of $264.4 million in the same six months last year. […]
The Ten Network is back in profit