SYDNEY: Ten Network Holdings’ survival depends on three billionaire debt guarantors, including News Corp co-chairman Lachlan Murdoch, after Australia’s third-largest TV network reported a A$232mil (US$173mil) half-year loss in a weak advertising market.
Ten said it needs to secure an amended or new borrowing facility to ensure it could continue operating after a long period of upheaval that couldn’t restore the fortunes of the once hugely popular youth-oriented network.
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