Oct 27, 2011

Murdoch takes the heat as Ten’s profit plunges 90.5%

The Ten Network's full year profit plunged 90.5% as stand-in CEO Lachlan Murdoch drives a clean-up of the company's books that will make it easier for his replacement, James Warburton, to look good in his first year.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

The Ten Network’s full year profit plunged 90.5% as stand-in CEO Lachlan Murdoch drives a clean-up of the company’s books that will make it easier for his replacement, James Warburton, to look good in his first year.

All the costs (including more than $85 million of restructuring charges reported, including $39 million writing down or off the value on unprofitable sports rights for its ONE digital channel) relate to programming and other decisions by the ousted former management team, led by executive chairman Nick Falloon and CEO Grant Blackley.

Free Trial

Proudly annoying those in power since 2000.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

8 thoughts on “Murdoch takes the heat as Ten’s profit plunges 90.5%

  1. eric

    Looks like Lachie is doing another “One tel” at Ten LOL

  2. Venise Alstergren

    ERIC: Indeed you could be right LOL.

  3. animaldander

    Ha ha ha ha HA! suck eggs Ten. and anyone who tried to make a profit from you

  4. Mike Flanagan

    Why be amazed at Lachlan’s lack of skills. The Australan has been
    running at a loss for over twenty years. The ‘old man’ Rupert has
    probablydestroyed over a billion dollars of shareholders equity over
    the last two years
    James has yet to be brought to a account and the cost is yet to be
    So it actually runs in their genes as they all gallivant around the world
    protecting their nests in shareholder funded executive jets.
    Rupert, his father is the only executive chairman that can run a personal
    hobby like the Australian at the expense of his shareholders with
    Rupert is the only executive chairman that lets a senior member of his
    staff deride his own mother ‘as a geriatric old fool that should mind
    her own business ‘, on a publicly broadcasted television show
    And in defense of Lady E Murdoch I feel confident in asserting it is
    not her business ethics and genes that Rupert displays, for she has
    done commendable work for the community

  5. Venise Alstergren

    MIKE FLANAGAN: Rupert’s father was an utter bastard with a capacity for going for the throat but I don’t know where Rupert’s mad dog killer instinct came from. Terrifying, isn’t it?

  6. Mike Flanagan

    Venise Alstergren
    Thankyou for obsevations on the disreputable Keith Murdoch
    I nearly fell of my chair with derisive laughter when I heard Rupert
    describe him as a ‘fine’ journalist at the British Parliamentary enquiry
    into his corrupt practises. The laughter became painful and
    potentially a threat to my health when I listen to him inform the
    same enquiry that his father had gifted him the Adelaide Tyser for him
    to do ‘good’
    His ‘profound humility’ is displayed by sacking hundred of his loyal
    employees at the NOW in order to maintain access to the backdoor key of
    10 Downing St.
    With a wink and a stroke of a pen he dismisses the staff whom I dare to
    say have offered many years loyalty and commitment to his empire
    building ambitions . While many of these ex employees battle with
    the reality that they no longer have the means to support their
    financial and family commitments Rupert pays generous severance
    payouts to anyone that may have records of his corrupt and
    unscrupulous activities for their silence.
    Vanity Fair inform us of the dysfunctional family that he has
    engendered. Fortunately his ingrained mysogny has allowed the
    female offspring to escape the repititive disreputable and unscrupulous
    behaviour demonstrated by the male offspring.

  7. Venise Alstergren

    MIKE FLANNAGAN: I loves ya. Someone who understands the inherited glory (I jest) of the Murdoch empire. Well done.

  8. Owen Gary

    Im absolutely distraught, I think I will hold a midnight vigil by candle-light for dear ole Rupret!!! (from the film – dirty rotten scoundrels)

    He should be made to wipe his ass on all the rubbish he has printed over the decades, hopefully he would die from ink poisoning!!!!

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details