TEN upbeat despite $89m loss

ten towerThe TEN Network has reported an $89.4 million loss for the 12 months ended August 31st, down from a $274m profit the year before.

Operating earnings dropped 30 per cent to $151 million as television earnings slid 32 per cent, TEN said. But the network sees itself on the road to recovery.

”We are seeing, and it’s very pleasing to see, further strengthening signs in the revenue market after the times that we’ve been through, and there is an increase in demand levels clearly coming through in recent weeks,” Executive chairman, Nick Falloon told analysts.

CEO Grant Blackley said MasterChef Australia, Talkin’ bout Your Generation, Merlin and Recruits had been the network’s best performers over the past year, and the 2010 Commonwealth Games would be the year’s biggest sporting event for Australian advertisers.

Next week the channel unveils its 2010 Programming highlights.

Source: The Age , The Australian

8 Comments:

  1. Are we all reading from the same page here?? Ten has posted an $89 mill loss,Falloon and Blackley get massive pay rises and shareholders have been bent over the boardroom table over a dodgy share buyback sham early in the year ,bring on the AGM

  2. i would personally love to see a channel that shows, lots of movies, prob 2 or 3 a day, a in depth news program for ten on the channel where we get news entertainment ,politics, finance and general news in the 1 show, lots of doco’s and a channel with less ads

  3. Oh ok well it looks its just general entertainment – for the oldies. So I’m guessing ten won’t go there. They have a channel for whatever they want.

  4. I wonder what that means then? Are ten waiting to see if they do an entertainment channel to compete or if seven don’t do one won’t ten worry?

  5. i just listened to the ten briefing and a shareholder asked about ten’s 3rd channel and ten said they are waiting to see what path 7 takes and then they will make their decision

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