Channel Ten has been forced to go into voluntary administration after its billionaire shareholders told it on the weekend they would no longer guarantee a key loan.
The TV broadcaster has appointed KordaMentha as voluntary administrators of the company and its subsidiaries, it announced in a statement to the ASX on Wednesday morning.
Network Ten is looking at refinancing options. Photo: Jessica Hromas
Having lost the support of billionaire backers Lachlan Murdoch and regional TV network owner Bruce Gordon “left the directors with no choice but to appoint administrators,” the statement said.
The administrators are expected to work closely together with Ten’s management, employees, suppliers and content partners while undertaking a finan…
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