Ten shares rise after Warburton firing

Tim Burrowes

February 25, 2013 10:35

Source: Google Finance five day tracking

Shares in Ten rose in early trading on the ASX as the market had its first chance to react to Friday night’s CEO dramas

In the first few minutes of trading, the shares rose by 8.5 per cent to 32c, valuing the company at $828m.

On Friday, the board of Ten – led by chairman Lachlan Murdoch – sacked James Warburton as CEO and appointed Hamish McLennan as his replacement.

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Tim Burrowes

Tim Burrowes is the publisher of Mumbrella and Unmade. He co-founded Mumbrella in 2008 and sister title Unmade in 2021. He's worked in the UK, Middle East, Asia & Australia and has specialised in writing about the communications world for the last 25 years. He wrote the book Media Unmade, published in 2021, and became the presenter of MediaLand on ABC Radio National in 2025.

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4 COMMENTS

nick 25 Feb 13

Imagine what would happen to the share price if Lachlan resigned from the Board!

We are talking 35c at least.

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Richard Dirth 25 Feb 13

As expected 🙂

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Richard Dirth 25 Feb 13

@nick, I agree not a silver plated chairman, but his removal will probably have a negative impact on the price; board instability is not looked on favorably, and besides, it places doubt on the possibility of News Corp and TEN doing some very competitive programming deals.

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Max 26 Feb 13

HMc buying shares in TEN nothing more than a PR stunt

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