Ten set to exit MCN venture as it brings sales in-house
Network Ten is set to withdraw from its joint venture with Foxtel and Fox Sports – Multi-Channel Network – with Ten to bring sales in-house, the Australian Financial Review is reporting.
The CBS-owned broadcaster owns 24.99% of MCN, while Foxtel – which News Corp owns a majority stake in – and Fox Sports own the rest.
MCN was first established in 1997
MCN also handles the interests of 72 applications and 73 digital out of home screens. MCN began doing advertising sales for Ten in 2015, after Foxtel took a 15% stake in the network.
The split will come two weeks after the departure of CEO Anthony Fitzgerald, who was quickly replaced by marketing and sales boss, Mark Frain.
Not long after that, AdNews reported that up to 30 contractors and full time staff had been made redundant at the business, following the completion of the company’s new technology project.
It also comes almost a year after the Network Ten was bought by international giant, CBS. Since then, rumours had been circling around the future of the joint venture, given Ten had the capacity to bring capabilities in-house.
Earlier last week, the Australian Financial Review’s Rear Window flagged CBS executives had been in town, as the contract deadline neared its end.
The AFR is now reporting executive general manager of revenue and client partnerships, Rod Prosser, will lead the network’s new sales team.
Mumbrella has approached Ten and News Corp for comment.
Is Anthony Fitzgerald’s timing a coincidence or just good timing to take the Ten role?
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I only have one question …… Does this mean that we’ll have more or less motorsport on Channel 10 ?
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What Ten role?
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