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BRIEF-Ten Network enters voluntary administration

Published 14/06/2017, 12:18 pm
© Reuters.  BRIEF-Ten Network enters voluntary administration
TEN
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June 14 (Reuters) - Ten Network Holdings Ltd TEN.AX :

* Ten Group enters voluntary administration

* Announces that Mark Korda, Jennifer Nettleton and Jarrod Villani of Korda Mentha appointed as voluntary administrators

* Identified initiatives that are expected to have a positive impact on earnings in order of at least $50 million in FY18

* Identified initiatives also expected to have a potentially more than $80 million per annum positive impact by FY19

* Reduction in licence costs for ten in FY17 will be in order of $22 million and, in FY18, $12 million Source text for Eikon: ID:nASX7mmTDS Further company coverage: TEN.AX

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