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Australia's Network Ten on brink of collapse

mvcg66b3r

mvcg66b3r

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.
Click to expand...

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
 
If only they kept their 2 most popular shows, The Simpsons (from Fox USA) and Neighbours on the main 10 channel, instead of moving it to 11.
 
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