TEN

Ten Network (TEN)

Fri, 13/06/2008 - 08:27

Stock Code

TEN

Stock Exchange

Australian Securities Exchange

A parent company of the Network Ten, Ten Network Holdings (TEN) is engaged in investing in the Ten Group Pty Limited (Ten Group) and other controlled entities operating mainly in five large television stations: ATV-10 (Melbourne), TEN10 (Sydney), ADS-10 (Adelaide), TVQ-10 (Brisbane), and NEW-10 (Perth). TEN was listed on the Australian Stock Exchange on the 31st of March 1998. Its average annual revenue reaches approximately AUD$1 million. Its headquarters is located in New South Wales, Australia and to date; around 1200 people are employed in the company.

Best Performing Shares of the Week


Transurban Group (TCL), a company that owns, develops and operates intelligent transport systems and electronic toll roads with operations in Australia and the United States had the best performing shares of the 6th week in ASX100 with a gain of 21.7 percent or 99 cents to its stock price closing the week at $5.55.

Ten Network Aims 30 Percent Market Share


Nick Falloon, the executive chairman of Ten Network (TEN) has stated that the Australian advertising market was getting stable and improvements could be seen in the industry. He also added that the number of viewers has increased and the talks regarding the advertising rates might help the Network with its goal of securing 30 percent of the market share that it previously aimed to pursue. Mr.

Ten Network To Buy its Own Shares


The stockmarket value of Ten Network (TEN) share prices have nearly halved this year. Thus in order to savage the sagging share prices, it shall buy back up to 10 percent of its shares. Such a drastic move shall cost $150 million to the company as it plans to acquire up to 92.2 million of its own shares. The share prices witnessed a rally of 6 percent as soon as Ten began its debt-funded buy back plan.

Ten Network (TEN) Shares Recommendation


Ten (TEN) have a retained Neutral shares recommendation from stock analyst Macquarie Research Equities (MRE) The analyst continue to believe that TEN will ultimately be acquired, but the price has a chance of disappointing investors looking for a substantial offer premium to the current share price. They struggle to obtain valuations to justify the current share price. Asper family's CanWest has announced it was exploring a range of opportunities for its Ten stake.

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