Australian commercial broadcaster Channel Ten will not change its coverage plans despite ongoing financial concerns, according to the company appointed as its voluntary administrator.
Uncertainty remains over the long-term future of Ten, which in April posted a half-yearly loss of Aus$232m (€157m/$175m).
This week, the broadcaster’s shares were placed in a trading halt following the decision by three major shareholders to oppose a new funding deal to finance a Aus$200m loan as part of an effort to manage its debts.
Ten has also entered into voluntary administration and concerns were raised as to whether the move would impact its coverage of major sporting events. The broadcaster currently shows coverage of Australia’s Big Bash League Twenty20 cricket competition.
However, according to the Sydney Morning Herald, KordaMentha, which is now serving as the administrator, said that broadcast plans will not be changed as a result of ongoing financial uncertainty.
“Customers, employees and other stakeholders are assured that the administrators intend to keep the business running,” KordaMentha said. “Viewers can expect the same content they currently enjoy on Network Ten.”