Network Ten places shares in trading halt ahead of financial results announcement

Ten-Logo-3D-High-Res-234x234Network Ten has stopped trading on its shares on the Australian Securities Exchange ahead of an “announcement” from the company.

The third placed free-to-air network is set to announce its annual financial results today, which are expected to see an improvement on the last few years after a ratings spike this year.

However it may post a loss on paper if it elects to write down the value of its TV licence as both Seven and Nine did.

At close on Friday Ten was trading at 19c per share, days after two watchdogs gave Foxtel the all clear to acquire a near 15 per cent stake in the business.

It had a market capitalisation just under $500m. The announcement may be to around refinancing the company’s debt pile.

More soon. 


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