The board of the embattled Ten Network has met again today, and the company is being put into voluntary administration. There won't be a rose-coloured view of how Ten got to this position on the conflicted five-person board (with only two independent directors). In a moment's candour all would agree the problems go back years.

In a statement to the ASX just after 11.30am, Ten directors announced the decision and said Korda Mentha, the Melbourne-based accounting group had been appointed as voluntary administrators of the company and each of its subsidiaries.