SYDNEY, April 27 Australia's third-largest
television network, Ten Network Holdings, on Thursday
said its future was dependent on financing arrangements after it
reported a A$232 million ($173.44 million) half-year loss in a
weak advertising market.
The youth-oriented network has a A$200 million debt facility
guaranteed by News Corp Co-Chairman Lachlan Murdoch,
businessman Bruce Gordon and Crown Resorts casino
magnate James Packer due to expire in December.
"The group is currently seeking to secure an amended or new
borrowing facility with extended maturity and expanded size,"
Ten said in its financial accounts.
"As a result of the matters disclosed, there is a material
uncertainty that may cast significant doubt on the group’s
ability to continue as a going concern."
($1 = 1.3376 Australian dollars)
(Reporting by Jamie Freed; Editing by STephen Coates)