Ten goes into a trading halt after its billionaire shareholders refuse to guarantee more loans
Ten has gone into a trading halt after two billionaire shareholders backed out of guaranteeing more loans for the free to air network.
The company told the ASX that Illyria Pty Limited and Birketu Pty Limited, two shareholders which guarantee the company’s current credit facility, say they don't plan to extend or increase support.
Network Ten places shares in trading halt
Last edited by OSIRUS; 13-06-17 at 05:21 PM.
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Saw that on the news last night. I think Ten has lost its way in recent years. I remember when 10 first started in SoufOrz back in the 60s. There is certainly nothing that is a "must watch" for me. Can't say that I've actually seen anything of interest in the program guide for years.
I'm out of my mind, but feel free to leave a message...
By the time the TEN network started, owning a TV broadcasting license was no longer a permit to print money that it was a few years earlier.
While having an extra channel was great for the viewer, commercialy it was an overload on existing advertisers.
Of course the advent of subscription TV only made matters worse by draining away more of the viewers.
Regretably things have only got worse as we have seen Optus pull out of PayTV and Austar stumble financialy for some years before being swallowed up by Foxtel who dont give me any faith in their longevity either.
I stand unequivicably behind everything I say , I just dont ever remember saying it !!
Gone into voluntary
administration.....
Ten goes into voluntary administration - via @abcnews
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A not unexpected action was it?
Makes you wonder what Messes Murdock and Gordon have planned as neither do ANYTHING that wont put money (lots of it) in their pockets !!
I stand unequivicably behind everything I say , I just dont ever remember saying it !!
Does this mean 33% less reality TV????
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Statistically, if you wait long enough, everything will happen!
If the greedy CEO's actually put back into the company what they are taking out then there wouldnt be these issues, greedy over paid aresholes
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