Ten rolling out the shows after 70% profit plunge

Apr 12, 2012 (The Sydney Morning Herald - ABIX via COMTEX) -- Ten Network has announced a 2011-12 interim net profit decline of 70.1% to $A14.8m, with revenue also down 10.6% to reach $A432.8m. No six-month distribution will be made. New CEO James Warburton noted that the free-to-air TV group had managed to reduce costs by 2.5% and was on track to boost this to 5% for the full year. Ten will rely on a number of new shows to be launched later in the year to revive its audience ratings. It may divest the Eye Corp billboards division, at which revenue fell 7% for the half.

Publication Date: 13 April 2012 TEN NETWORK HOLDINGS LIMITED - ASX TEN EYE CORP LIMITED SEVEN WEST MEDIA LIMITED - ASX SWM SEVEN NETWORK LIMITED NINE ENTERTAINMENT COMPANY PTY LTD CONSOLIDATED MEDIA HOLDINGS LIMITED - ASX CMJ NINE NETWORK AUSTRALIA LIMITED AUSTRALIAN FOOTBALL LEAGUE V8 SUPERCARS AUSTRALIA PTY LTD AUSTRALIAN OPEN TENNIS NATIONAL RUGBY LEAGUE CREDIT SUISSE (AUSTRALIA) LIMITED

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