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Star Participant
Ten Network Holdings Limited, the holding company for Australia’s Ten Network, is going in to voluntary administration. Such a move seemed inevitable following the withdrawal of backers of its debt, most notably Lachlan Murdoch.
In a statement, Ten Network Holdings Limited announced that Mr Mark Korda, Ms Jennifer Nettleton and Mr Jarrod Villani of Korda Mentha have been appointed as voluntary administrators of the Company and each of its subsidiaries (together the ‘Ten Group’) by the Ten Group Directors.
This decision follows correspondence received from backers Illyria and Birketu over the weekend which left the Directors with no choice but to appoint administrators.
http://advanced-television.com/2017/06/14/ten-group-enters-voluntary-administration/
News reports from Ten, Nine and Seven:
https://www.youtube.com/watch?v=Hdi-S8WdONg