Ten’s Receiver Places “For Sale” Ads For The Network In National Newspapers

Ten’s Receiver Places “For Sale” Ads For The Network In National Newspapers
SHARE
THIS



Fancy snapping up a struggling free-to-air telly network at a bargain price? Well, grab yourself a newspaper today and check out the “for sale” ad for Network Ten.

Ten’s administrators, KordaMentha have gone global in its search for a buyer for the embattled network and, as the ad reads, are offering a “rare opportunity to recapitalise or acquire an iconic Australian free to air broadcaster listed on the ASX”.

Check out the ad below:

Unknown-11

However, just because the network is being offered for sale doesn’t mean that KordaMentha has abandoned hope it recapitalise the business itself.

Ten went into administration last week when its billionaire shareholders – namely Lachlan Murdoch and Bruce Grodon – refused to guarantee a $200 million line of credit.

It’s widely believed that Gordon and Murdoch would hatch a deal to buy Ten outright, however, what that would look like is unclear given current media ownership laws.

Ten’s bosses are saying its “business as usual” despite the administrators, however, media reports have suggested the mood among staff at the network is palpable with everyone fearing for their jobs.

There had also been reports that the administrators had advised staff they cannot place any orders for goods or services without signed permission from Korda Mentha.

Despite the gloom hanging around the network it will most likely survive with Murdoch and Gordon the primary owners, alongside Foxtel and News Corp.

As the AFR noted last week: “News Corporation is attempting to tighten its grip around the Ten Network, with Sky News executives believed to have pitched an integration of the subscription news channel’s service with the free-to-air broadcaster’s news bulletins.”

However, as the ABC’s Media Watch program noted on Monday night, News Corp would probably prefer to get its hands on Nine and its NRL rights if the opportunity arose. “Why would News buy the worst house on the street? That’s not their style,” an ex-Ten staffer was quoted as saying.

While another added that a low-cost Ten Network, even coming third in the ad revenues, was still a good buy. “A low-cost Ten could easily be profitable even with a 15-20 per cent share of the TV ad market. And it’s currently got 24 per cent,” the ex-staffer told Media Watch.

 

 

Please login with linkedin to comment

Latest News

State Vs State: Which Aussies Travel The Most?
  • Marketing

State Vs State: Which Aussies Travel The Most?

Australians from NSW and the ACT take first place when it comes to travelling overseas, whereas Queenslanders are the keenest on domestic trips, according to new research from global online travel booking platform agoda. The Travel and Tech Study found those in NSW and ACT took an average of 4.8 trips in the last 12 […]

How The AFL Won The Social Media Grand Final (But The NRL Scored With Macklemore)
  • Marketing
  • Media

How The AFL Won The Social Media Grand Final (But The NRL Scored With Macklemore)

As AFL’s Richmond Tigers and NRL’s Melbourne Storm bask in the glory of their Premiership victories, another war was waging across social media. Sports social content platform 20FOUR today revealed the winner in the battle of the footy codes, declaring the AFL victorious over the NRL in audience engagement during this year’s grand final. Just over 3.5 million people tuned in to watch the […]

by B&T Magazine

B&T Magazine
Chris Gayle Claims Fairfax Journo Was Out To “Destroy” Him In Defamation Case
  • Media

Chris Gayle Claims Fairfax Journo Was Out To “Destroy” Him In Defamation Case

West Indies cricketer Chris Gayle has told his Sydney defamation trial against Fairfax Media today that one of its journalists was out to “destroy” him following a series of articles in The Age that alleged he exposed his genitals to a female masseuse during the Cricket World Cup in Australia in 2015. In the NSW Supreme Court today, […]

by B&T Magazine

B&T Magazine
Female Industry Leaders To Help Launch Unique Walking Tribe In Melbourne
  • Advertising
  • Marketing

Female Industry Leaders To Help Launch Unique Walking Tribe In Melbourne

After successfully launching in Sydney and Brisbane in the past year, Mentor Walks has announced it is expanding to Melbourne with the help of some female industry leaders. How Mentor Walks works is through a small group of senior female executive leaders who agree that, when they are available, will be part of a monthly […]

App Annie Announces New Managing Director For APAC
  • Technology

App Annie Announces New Managing Director For APAC

App market data and analytics company App Annie has announced the appointment of Cindy Deng as its new managing director for the Asia-Pacific (APAC) region. Deng joins App Annie with more than 18 years’ experience in enterprise IT, digital advertising, data analytics, and data management. In her most recent role at Turn, she was responsible […]

New Editor For GQ Australia
  • Media

New Editor For GQ Australia

Unfortunately, it's no more Lowes or Roger David for Michael Christensen after being named fashion organ's top tamale.

QMS Goes West With ‘The Leeder’
  • Advertising
  • Media

QMS Goes West With ‘The Leeder’

QMS Media continues to expand its digital portfolio across Western Australia, switching on an iconic billboard in the heart of Perth. Following the launch of two new digital billboards in the major WA regional centres of Bunbury and Kalgoorlie in recent months, ‘The Leeder’ further delivers on QMS’ digital expansion strategy out west. Positioned at […]

PR Firm Text100 Wins NetApp Account For APAC
  • Marketing

PR Firm Text100 Wins NetApp Account For APAC

Global marketing communications agency Text100 has announced it been appointed by data management company NetApp to drive its brand transformation effort across the Asia-Pacific (APAC) region. Following local competitive pitches conducted across the region, Text100 has been appointed as the APAC lead agency out of Singapore, and as the local agency of record in Australia, […]

MFA Awards 2017 Winners Revealed!
  • Advertising
  • Marketing
  • Media

MFA Awards 2017 Winners Revealed!

B&T once again donned the tux, applied the Brut, and primed the liver for last night's MFA Awards in Sydney.

Concrete Playground Launches Voice-activated Nightlife Guide With Google Assistant
  • Media
  • Technology

Concrete Playground Launches Voice-activated Nightlife Guide With Google Assistant

Digital publisher Concrete Playground has unveiled a new app that helps Millennials plan their night out using voice control – the first of its kind to become available in Australia. Concrete Playground’s Guide to Tonight now works with Google Assistant, making it available on a range of Google devices and helping people to decide what […]

Digital Agency Inlight Secures Two Key Client Wins
  • Marketing
  • Technology

Digital Agency Inlight Secures Two Key Client Wins

Independent agency Inlight has announced it has won the digital account for Benetas, a not-for-profit aged care provider in Victoria. Following a competitive pitch process, Inlight was chosen to handle Benetas’ new website design, build and ongoing optimisation. Richard Barker, marketing manager at Benetas, said: “We wanted an agency that could be our true digital […]

AMI Awards 2017 Winners Revealed!
  • Marketing

AMI Awards 2017 Winners Revealed!

With almost 30 awards handed out, B&T predicts plenty of numb bottoms at last night's AMI Awards in Melbourne.

Clems Sydney CEO Andy Pontin Quits
  • Advertising

Clems Sydney CEO Andy Pontin Quits

Sure, B&T flashed the news of Andy Pontin quitting this morning. White lies aside, he's actually still got six months.

by B&T Magazine

B&T Magazine
Adobe MAXes Most Creatives In A Room Record
  • Advertising
  • Media

Adobe MAXes Most Creatives In A Room Record

B&T's journo is reporting live from the annual Adobe Summit in Vegas. Although, "reporting" is somewhat of a stretch.

Opinion

by David Hovenden

David Hovenden
Digital Women’s Network & The Australian College Of Marketing Unveil Latest Short Courses
  • Marketing

Digital Women’s Network & The Australian College Of Marketing Unveil Latest Short Courses

The Australian College of Marketing is collaborating with the Digital Women’s Network to bring new short courses aimed to provide the latest skills across all aspects of the Digital landscape, kicking off in Melbourne and Sydney in 2018. Course content will focus around various topics related to the digital marketing landscape. All courses will run […]

Man working at office desk, looking at computer and scratching head
  • Technology

Where Are Digital & Tech Skills & Salaries Headed?

The rapid pace of technological change in the digital sector is seeing demand for those with the right skill sets outstrip availability, both locally and globally. The individuals who have kept their skills up to date are being well-rewarded financially. Now, Digital + Technology Collective’s expanded annual Skills and Salary Survey will put some numbers and context […]

Disney & ESPN Unify Sales & Partnerships Teams
  • Advertising
  • Marketing
  • Media

Disney & ESPN Unify Sales & Partnerships Teams

Disney and ESPN have formed an even closer bond, announcing a new alignment of the two properties through their media sales and partnerships teams. Instead of entering through three doors, Disney ESPN Media Sales & Partnerships will give media buyers and marketers a refined, singular point of entry for Disney, ESPN Digital and Maker. Nik […]

by B&T Magazine

B&T Magazine
Sydney Start-up Muzaara Partners With Commission Factory To Turbocharge Digital Ad Spends
  • Advertising
  • Marketing

Sydney Start-up Muzaara Partners With Commission Factory To Turbocharge Digital Ad Spends

Sydney-based adtech start-up Muzaara has announced a new strategic partnership with performance marketing platform Commission Factory. Together, Muzaara and Commision Factory are providing SMEs with a secret weapon to skyrocket their online brand visibility and effectively manage and maximise their online advertising campaigns. This partnership will allow both online marketing companies and their impressive roster […]