Channel Ten



  • No more Waleed?? Yea please! 🙏



    TROUBLED free-to-air broadcaster Network Ten has been placed into voluntary administration after its billionaire backers walked away.

    The network was widely expected to enter administration today, after it emerged yesterday that Ten shareholders Lachlan Murdoch, Bruce Gordon and James Packer decided against guaranteeing a new $250 million loan to replace the existing $200 million overdraft, which needs to be repaid to Commonwealth Bank in ­December.

    In a statement to the ASX on Wednesday, Ten announced KordaMentha had been appointed as voluntary administrators. Illyria, Mr Murdoch’s private investment vehicle, holds 7.5 per cent of Ten shares, while Mr Gordon’s Birketu controls 15 per cent. Mr Packer is understood to be keen to sell his 7.7 per cent stake.

    “This decision follows correspondence received from Illyria and Birketu over the weekend which left the directors with no choice but to appoint administrators,” Ten said in a statement.

    “The administrators have advised the company that they will work closely with management, employees, suppliers and content partners while they undertake a financial and operational assessment of the business. During this period, the administrators intend to continue operations as much as possible on a business-as-usual basis.

    “The directors of Ten regret very much that these circumstances have come to pass. They wish to take this opportunity to thank all Ten employees and contractors for their commitment and enthusiasm for Ten’s programs and business.

    “In particular, they would like to express their sincere gratitude, respect and admiration for Ten’s leadership team, who have achieved everything the board has asked them to do over the past few years in very challenging circumstances. They wish Ten and its management … all success in the future as the administrators look to the potential sale or recapitalisation of the business.”

    But fans of The Project, MasterChef, The Bachelor and can rest easy. “Today’s announcement will have no impact on our programming, at all. It is business as usual,” a spokesman said.

    Experts say cashed-up private equity firms and Australian billionaires will be likely buyers of the business. Media analyst Steve Allen told The Daily Telegraph Ten’s shares collectively are worth about $60 million, which is cheap for a television licence in Australia.
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    “I would have thought in the long run $60 million for a free-to-air TV licence in Australia with a bunch of programming commitments and a couple of contracts to be renegotiated could mean the network survives profitably and would be very tempting [for a buyer],” he said.

    Ten said the decision came despite making significant progress to improve future earnings through cost cutting, renegotiation of onerous programming contracts with US studios CBS and 21st Century Fox — which have cost the network an estimated $900 million over the past six years — and a reduction in government licence fees.

    It said the company was expected to save between $50 million and $90 million a year through its cost-cutting program between FY18 and FY19. Savings from the reduction in licence fees are expected to be in the order of $22 million this financial year and $12 million in FY18.

    “In relation to the renegotiation of programming contracts, the company has agreed in principle the vast majority of the commercial terms of replacement volume content supply agreements with its US studio partners, Fox and CBS, although final terms have not yet been formally agreed,” Ten said.

    “The effect of these replacement content agreements, if finalised and implemented, would be to reduce by approximately 50 per cent the group’s future liabilities for US content, while still allowing Ten access to the best productions of those studios over the medium term.”

    At its recent half-year ­results, Ten admitted it may not be able to carry on as a going concern after posting a $232.2 million loss. Despite a number of hit shows, the third-placed free-to-air network has struggled to bring in advertising revenue. The broader TV industry faces pressure from streaming services like Netflix, Stan and Amazon Prime, and from online advertising giants Facebook and Google.



  • I don’t think there’s a single programme I watch on Channel Ten.


  • ForumSupporter

    Big Bash and that’s it…

    What’s a Ch. 10 has even less relevance than What’s a Ch. 9…?



  • I would’ve pegged a few here as massive Neighbours fans.



  • people still watch tv? I think its only a matter of time before tv is gone forever



  • @:

    people still watch tv?

    Assuming you mean free-to-air TV? The answer is no.



  • @:

    @:

    people still watch tv?

    Assuming you mean free-to-air TV? The answer is no.

    yeah, i didn’t think many people watch much tv these days. My tv is almost never on.



  • @:

    @:

    people still watch tv?

    Assuming you mean free-to-air TV? The answer is no.

    Exactly my thoughts, apart from sports does anyone watch free to air tv anymore. We have ABC kids on and that’s it for non sports programs



  • @:

    @:

    @:

    people still watch tv?

    Assuming you mean free-to-air TV? The answer is no.

    Exactly my thoughts, apart from sports does anyone watch free to air tv anymore. We have ABC kids on and that’s it for non sports programs

    My kids watch cartoons on Netflix. We stream Foxtel Now so I get all the sport I need there. Poor free-to-air. I just want to stop reading about Waleed Aly on news.om.au every day so am hoping he is the first cost-cutting decision made.



  • If missus and kids are at home the tv is always on, asked the kids what they were watching once, they said Netflix, I asked who was in that show. they laughed, had to explain what it was. Only things worth watching are walking dead and sports. with regards to channel 10, family watch neighbours every night. I sit outside listening to talkin sport, don’t know whose smarter them or me



  • I would say that channel 10 is not the only free to air TV station that is financially going down the drain. Other free to free stations are also losing viewers and are trying to make up the financial shortfall with deluges of advertisements thereby alienating current viewers and losing them in the process.



  • @:

    I would say that channel 10 is not the only free to air TV station that is financially going down the drain. Other free to free stations are also losing viewers and are trying to make up the financial shortfall with deluges of advertisements thereby alienating current viewers and losing them in the process.

    Christ there are a bucketload of ads on Foxtel these days as well. As many if not more than free-to-air I’d reckon. It’s a disgrace that us suckers are paying to watch those bloodsuckers sponge more money out of companies for advertisements on top of our subscription fees.
    On that Waleed Aly bloke, have never seen him on tv- the majority of people seem to dislike him- what is it about him that people can’t stand? Curious to know what his go is.



  • @:

    @:

    I would say that channel 10 is not the only free to air TV station that is financially going down the drain. Other free to free stations are also losing viewers and are trying to make up the financial shortfall with deluges of advertisements thereby alienating current viewers and losing them in the process.

    Christ there are a bucketload of ads on Foxtel these days as well. As many if not more than free-to-air I’d reckon. It’s a disgrace that us suckers are paying to watch those bloodsuckers sponge more money out of companies for advertisements on top of our subscription fees.
    On that Waleed Aly bloke, have never seen him on tv- the majority of people seem to dislike him- what is it about him that people can’t stand? Curious to know what his go is.

    Personally I don’t like him because he comes across as an arrogant, self-righteous, condescending know-it-all and, worse, he is criminally unfunny.

    The DT readers that rage about him seem to not like the fact that he is a Muslim/looks like an Arab and is talking like he’s smarter than them (he is). He’s also of the left so again, DT readers hate him.


  • Banned

    @:

    @:

    I would say that channel 10 is not the only free to air TV station that is financially going down the drain. Other free to free stations are also losing viewers and are trying to make up the financial shortfall with deluges of advertisements thereby alienating current viewers and losing them in the process.

    Christ there are a bucketload of ads on Foxtel these days as well. As many if not more than free-to-air I’d reckon. It’s a disgrace that us suckers are paying to watch those bloodsuckers sponge more money out of companies for advertisements on top of our subscription fees.
    On that Waleed Aly bloke, have never seen him on tv- the majority of people seem to dislike him- what is it about him that people can’t stand? Curious to know what his go is.

    Islamic appologist.


  • Banned

    @:

    @:

    I would say that channel 10 is not the only free to air TV station that is financially going down the drain. Other free to free stations are also losing viewers and are trying to make up the financial shortfall with deluges of advertisements thereby alienating current viewers and losing them in the process.

    Christ there are a bucketload of ads on Foxtel these days as well. As many if not more than free-to-air I’d reckon. It’s a disgrace that us suckers are paying to watch those bloodsuckers sponge more money out of companies for advertisements on top of our subscription fees.
    On that Waleed Aly bloke, have never seen him on tv- the majority of people seem to dislike him- what is it about him that people can’t stand? Curious to know what his go is.

    Lefty Self Righteous Islamic Apologist, pretty much sums up why the dislike from most sane people.

    Youtube Chrsitopher Hitchens on Q&A with this smug (automatically editored). The cringe is real.


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