For Sale: Pre-loved Network going for a song

Ok this is pretty sad….

In the 10 years I have been running TV Tonight I’ve never once had to publish a newspaper ad looking to sell a TV network.

But that is that state of play today, June 22nd 2017.

Administrators KordaMentha have placed a national advertisement seeking Expressions of Interest in a “rare opportunity to recapitalise or acquire an iconic Australian free to air broadcaster.”

It comes a day after the House of Reps voted (and passed) media reforms. Timing, people….! But it will still face stiff opposition in the Senate.

Edit: The ad notes TEN has key franchises including MasterChef, The Bachelor and the Big Bash League and operates in a market that generates a gross revenue of around $3billion.

Korda Mentha are throwing in a transformation strategy which renegotiates key agreements and cost initiatives, there are media reform and licence fee relief just a 10 minute drive away.  Don’t ask about how many crew are heading to South Africa, it might make your head spin.

If you have a few million in spare change down the back of your couch, you can reach Ryan Rabbitt or Lachlan Viney at [email protected]

Tell ’em TVT sent you.

31 Comments:

  1. Ad in the newspaper? Post it on eBay and Gumtree you’ll find the buyers there! I surely can’t be the only one searching “3rd largest FTA network” on those sites?

  2. The network was going strong when Murdoch put his grubby hands on it. Call me cynical but he was intent on protecting Foxtel’s viability and one way he proved that is how ONE was stripped from an excellent HD sports channel to a channel eventually simulcasting Family Feud in HD. Ultimately viewers lost out because sports that were shown on ONE such as the IPL were subsequently not shown in Australia at all. A new direction for the network, owned solely by people who truly want the network, is something to look forward to.

  3. So does thet now mean , “none” of the present owner what to be involved anymore ? David , can some one like CBS , ITV , buy it if they get a ABN ?

    • No, it means that they are advertising it to see who else may have an interest, other than the Bruce Gordon/Murdoch company (recently combined). Anyone can get an ABN. They just need to register a business name or a company with an Australian address and officer. Hopefully it stays ‘Australian’ rather than foreign-controlled.

  4. Maybe we could all chip in and buy it?? After all, there’s a fair few of us that fancy ourselves as programmers, surely a Network couldn’t be too hard to run day to day…… ?

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