The Ten Network could fall into the hands of administrators as the troubled network was unable to give assurances today it would be able to finance a new $250 million loan. It needs the loan to keep solvent and trading as a going concern.

In a statement to the ASX just before trading was due to start at 10am today, Ten asked for a two-day trading halt, pending an announcement, confirming that two of its billionaire shareholders -- Lachlan Murdoch and Bruce Gordon -- had abandoned it by refusing to guarantee the new loan.