Image: Ten at Pyrmont in happier times.
Ten’s attempts to shore itself up as an independent company collapsed today when it told the Stock Exchange that it had entered voluntary administration and appointed KordaMentha as administrators.
The network is solvent at the moment, but it won’t be when the $200m loan guaranteed by Lachlan Murdoch, Bruce Gordon and James Packer fall due at the end of the year. They own some 30% of the company. Gina Rinehart and Foxtel are involved as well.