Last €0.16 EUR
Change Today 0.00 / 0.00%
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ten network holdings ltd (TWG) Snapshot

Open
€0.16
Previous Close
€0.16
Day High
€0.16
Day Low
€0.16
52 Week High
03/7/14 - €0.23
52 Week Low
12/17/14 - €0.13
Market Cap
428.6M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
2.7B
EX-Date
06/28/13
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for TEN NETWORK HOLDINGS LTD (TWG)

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ten network holdings ltd (TWG) Details

Ten Network Holdings Limited, through its subsidiaries, engages in the operation of multi-channel commercial television licenses in Sydney, Melbourne, Brisbane, Adelaide, and Perth. It operates through two segments, Television and Out-of-Home. The company operates television channels, such as TEN for viewers aged 25-54, which features news bulletins, current affairs, live sports, international dramas, comedies, and entertainment shows; ELEVEN that provides a mix of Australian and international content for viewers aged 13-29, including serial drama and international shows and drama; and ONE, an entertainment channel for men aged 25 and older, which features scripted and reality programming, as well as local and international sports. It broadcasts TEN in standard definition digital and analogue; ONE in high definition digital; and ELEVEN in standard definition digital. The company also operates tenplay, a digital platform that provides access to company’s content; Spree TV, a datacasting channel that showcases products and offers related to home improvement, lifestyle, cooking, fitness, and health products; and Beamly, a second-screen television application. In addition, it is involved in out-of-home advertising in the United States; and online business. Ten Network Holdings Limited is based in Pyrmont, Australia.

902 Employees
Last Reported Date: 10/15/14

ten network holdings ltd (TWG) Top Compensated Officers

Executive Chairman, Chief Executive Officer a...
Total Annual Compensation: A$2.0M
Chief Financial Officer and Chief Operating O...
Total Annual Compensation: A$820.3K
Chief Programming Officer
Total Annual Compensation: A$582.1K
Compensation as of Fiscal Year 2014.

ten network holdings ltd (TWG) Key Developments

TEN Considers Offers For Television Broadcaster

Ten Network Holdings Limited (ASX:TEN) is considering takeover offers for the beleaguered free-to-air television broadcaster is that a takeover would see Ten becoming a private company. A conventional takeover requires the bidder to reach a 90% acceptance threshold before moving to full control. An alternative scheme of arrangement structure involves a shareholder poll where 75% of votes cast must be in favor. A 14.9% stake stands a good chance of blocking a scheme if not all shareholders vote and a dissenting large shareholder attracts support from other investors.

TEN Network Receives Non Binding Conditional Proposals

As Ten Network Holdings Limited (ASX:TEN) revealed to the market it had "received non binding, conditional proposals from a number of parties" to take over the network, shares were sold amid speculation FOXTEL Cable Television Pty Limited and Discovery Communications, Inc. (NasdaqGS:DISC.A) had lowered their joint bid. Ten did not reveal the detail of bids handed to advisers Citigroup, but there was market speculation the network headed by Chief Hamish McLennan received at least three offers. "Ten urges caution in dealing in its shares on the basis of media speculation about -potential transactions involving the company," it said in a statement to the ASX. The consortium of pay Foxtel and Discovery submitted a lower-than-expected offer of 23 cents a share, valuing Ten Network at AUD 605 million, AAP reported. The pair had originally made an offer of 26 cents a share, but wound it back after briefings by Ten about the state of the broadcaster, it was reported. Other potential buyers said to be in the mix include the private equity company that floated Dick Smith, Anchorage Capital Group, L.L.C. Another potential buyer is Saban Capital Group, Inc. An independent committee of the Board of Ten will now consider the proposals in conjunction with Citigroup. "If implemented (these -offers) could result in a change of control of Ten or a refinancing of its existing debt facilities," Ten said. "It should be noted that the proposals are confidential, non-binding and conditional in nature and may or may not -result in a transaction that is acceptable to the company." Ten said it would update the ASX again "when required to do so under its continuous disclosure obligations". TEN Network shares fell more than 6% amid reports potential buyers had reduced bids for TEN Network. Herbert Smith LLP is acting as legal advisor for Foxtel and Discovery.

Ten Network Received Bid Approach From Many Companies

Ten Network Holdings Limited (ASX:TEN) has received proposals from many companies. Ten Network said it has received buyout approaches from a number of parties. Ten Network stated that the Citigroup, which it hired last month to help decide its future ownership, received non-binding, conditional proposals from a number of parties in relation to transactions which, could result in a change of control of Ten". Ten said, "It urges caution in dealing in its shares on the basis of media speculation about potential transactions involving the company". Ten shares went up by 6% at AUD 0.24.

 

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