Ten Network goes into voluntary administration

The TV station said it had ‘no choice’ after failing to win financial backing from its leading shareholders

The logo of Network Ten above the company’s headquarters in Sydney. Photograph: Steven Saphore/Reuters

Ten Network has announced it will go into voluntary administration, a day after its billionaire shareholders refused to back a new finance package.

The adminstrators, KordaMentha, have been appointed to run the company following the decision by leading shareholders Bruce Gordon and Lachlan Murdoch not to guarantee a $250m finance package.

KordaMentha will run the TV network “as much as possible on a business-as-usual basis”, Ten said read more

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