It is difficult to see how Ten Network can escape the corporate undertaker after losing the support of the three billionaires, Lachlan Murdoch, James Packer and Bruce Gordon, who until last weekend had been keeping it afloat.
The network has a $200 million loan with the Commonwealth Bank that falls due just before Christmas, which it secured thanks to the billionaire troika. Without that guarantee, the bank will not extend the loan and the company is staring down insolvency.
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