Ten issues warning on earnings as predictions fall $10m – $15m short
The Ten Network has issued a warning that its earnings before interest, tax, depreciation and amortisation are expected to fall short of its projections from December by as much as $15m as the advertising market weakened.
Ten CEO Paul Anderson says industry is “under severe duress”
The warning, announced to the Australian Stock Exchange, comes just a day after Seven West Media announced a 90% crash in profits.
Ten predicted at its AGM in December 2016 that it expected TV revenue would be up 1.2% to the half year on February 28, 2017.
DejaVu — this is exactly what happened across the Newspaper Industry 10 years ago (and is still happening). Broadcasters, Buckle in for a very rough ride ahead
Yeah yeah, times ARE difficult but poor old TEN is still recovering – or possibly not recovering – from the insane management(s) of the past ten years.
What to do now – stay with News and cut everything back to running Fox programming and Sky News – or sell to Bruce Gordon (which might be a better option)?
How many tenants do you know that have demanded their rent be reduced? How many tenants do you know who have banded together to get their rent cut?
The broadcasting spectrum is owned by the people of Australia. Users pay a licence fee for its usage, or what is in effect the rent of that spectrum.
Every cut in their rent comes out of your pocket.
Arrogance leads to poor results. You only have to spend 30 minutes with a senior FTA TV Exec to know this and where their industry is heading.