Ten Network (TEN) has reported a $285 million loss for the year to August, it told the market this morning

Livewire Equities

Ten Network (TEN) has reported a $285 million loss for the year to August, it told the market this morning. The dismal result was driven by $336 million of one-off charges, including $300 million of impairments, and restructuring costs, plus a slide in revenues. This result follows from a $12.9 million loss in 2012. The network also proposed a new four-year $200 million debt facility from the Commonwealth Bank, guaranteed by its major shareholders Lachlan Murdoch, James Packer and Bruce Gordon. Analysts had tipped Ten would report a break-even net profit. Ten shares opened 1.7% lower at 28.5 cents. Read more: (VIEW LINK)


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