Ten Network shares are being smashed

Kayaking in the rapids at Horseshoe Terrace on the Matakitaki River, New Zealand. Phil Walter/Getty Images

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 loss was from a non-cash expense of $125.3 million, including a television licence impairment charge of $135.2 million and a net gain of $23.1 million on the sale of the Out-of-Home business.

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