Network Ten chairman David Gordon has said the company is on the path to profitability after last week’s shock departure of chief executive Hamish McLennan.
As reported in B&T, McLennan stepped down from role as executive chairman and CEO last week. Chief operating officer and chief financial officer Paul Anderson has replaced Mr McLennan.
Gordon told The Australian that the channel’s ratings boost, especially during the recent MasterChef season, has translated into larger advertising revenue.
“Ten is delivering the best performance I can recall for many years. Advertisers and audiences are showing strong support for our programming. Our revenue performance is now starting to match the ratings trend, which is pleasing.
“It’s a very volatile and competitive market, so it’s difficult to say what the future is going to bring. But when I look at the programming that Ten has launched recently off the back of MasterChef, we’re attaining very good numbers,” Gordon said.
Gordon said the network had high hopes for The Great Australian Spelling Bee. He added: “I think Beverley McGarvey (chief programming officer) is showing herself to be one of the best program executives of the last couple of decades.”