Reuters logo
Australia's Ten Network says receivers appointed, still a going concern
July 3, 2017 / 12:17 AM / 3 months ago

Australia's Ten Network says receivers appointed, still a going concern

SYDNEY, July 3 (Reuters) - Australia’s Ten Network Holdings Ltd said on Monday administrators had appointed receivers to negotiate existing debt even as the television network continued to trade as a going concern.

Receivers PPB Advisory said it had secured A$30 million ($23.05 million) in funding to keep the company afloat until Aug. 31.

The receivers said the announcement meant Ten would “trade as a going concern” as the sale of the network’s business and assets continued. ($1 = 1.3016 Australian dollars) (Reporting by Ben Cooper; Editing by Stephen Coates)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below