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Ten Network casts 'significant doubt' on its viability after announcing $232m first-half loss

Publisher
Mass media Media ownership Television Advertising Australia
Description

The Ten Network has signalled grave concerns about its survival in a tough advertising market, as it posted a half-year loss of $232 million.

Australia's third-largest network is pinning its future on $200 million in debt financing guaranteed by News Corporation co-chairman Lachlan Murdoch, businessman Bruce Gordon and Crown Resorts majority owner James Packer, which is due to expire in December.

Media analyst, Peter Cox, believes Ten should go into administration so it can restructure for the new media environment.

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