Ten share price hits all time low as company value falls below $200m
The share market value of Ten fell to the lowest in its history on Thursday, taking the troubled TV network to a market capitalisation below $200m for the first time.
The TV network’s share price has been dropping steadily since late last year. Six months ago, shares were priced at $1.47. On Thursday they fell to 52c for the first time, giving the company a valuation of just $188m, only a third of six months ago.
Reading the Ten annual report it has some of the most overpaid executives relative to revenue and returns of any company in the market.
Ten has more potential than any other television producer, Ten has not an apple tree, it has an orchard, but the problem is that the fruit is rotting and falling to the ground.
I believe that a think tank and workshops conducted at rock bottom cost would produce a new vision for ten, and allow it to pull its way out of the rut, and climb to the heights. Good old fashioned programming, and carefully selected viewing for age appropriate audiences, will save the day. Good to see that they are depending upon master chef to lift them up again, why not, after all, a cooking program is such a unique and refreshing idea Ha ha.
Be bold Ten, dare to stand alone and dare to do what you used to do so well 25 years ago.
Agree Richard.
When you are down the only way is up.
Ten at the moment reminds me of the Cosser days. After going into receivership, the banks bought Cosser out and Gary Rice was appointed to run it.
Rice wielded the axe – 15 executives and heaps of news and current affairs (and yes they did have current affairs back then).
With threadbare staff the remaining ‘kids’ had to run the shop.
This (along with good output deals) brought The Simpsons to our shores. Twin Peaks which was too ‘out there’ for anyone else. Then Beverly Hills 90210 / Melrose Place back-to-back. X Files. Baywatch. NYPD Blue. Law and Order. Northern Exposure. Picket Fences. The Nanny.
But the piece de resistance was getting Seinfeld from Nine who couldn’t make it work at 10pm, and thought it was not suitable for Australian comedic tastes. Ten then stripped it at 7pm … and as they say in the classics … the rest is history.
Ten needs to be bold. It needs to zig when the others are zagging (or is it sagging). Forget cooking shows. How about some more Aussie comedy – our live comedy scene is on fire. Apart from the ABC and Foxtel … what Aussie comedy is shown.
Think differently. Act differently. Get very different results. Then watch the share price head back up.