Former Nine CEO David Gyngell says TEN can still be a viable business.
“I think Bruce Gordon and Lachlan Murdoch will end up buying it … it definitely has a future but you need to have good shows,” he told The Australian.
“If it is well managed it definitely has a future … these people are very experienced operators.
“If you bought it at $1 billion you can’t make money, (but) if these guys get it at a couple of hundred million they will make money,” he said.
Gyngell, who steered Nine back from the brink after it was facing crushing debts, noted that State of Origin figures proves television networks were still valuable.
“When you are free in someone’s lounge room, people will come back to you,” he said. “With the right management Channel 10 can still be in good shape, it will still be spending $600 million a year on programming.”