Apr 10, 2014

One out of Ten: pessimism on ads, but cash to build programming

Ten bosses are trying to stay optimistic about their chances of clawing back revenue -- at least according to the network's latest results.

Glenn Dyer ā€” <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

It wasn’t the strongest of interim results from the embattled Ten Network today. And when you strip out the one-off write-downs and losses from the same period in 2013, operationally, it was worse. Shareholders again get no dividend — not that it will worry billionaire shareholders Lachlan Murdoch, James Packer, Gina Rinehart and Bruce Gordon. Smaller shareholders are resigned to the prospect of never seeing an income stream from the company again.

While television revenue rose 3.2% to $316 million in the six months to the end of February, the detailed accounts filed with the ASX revealed that none of this came from higher advertising revenue. Directors conceded it was mainly “due to increased affiliate fees and other income”.

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