Ten widens full-year loss

Network announces new four-year, $200m debt facility backed major shareholders after widening FY loss, declines to pay dividend.

Ten Network Holdings (TEN) has announced a new four-year, $200 million debt facility backed by its major shareholders, after widening its full-year loss.

In the year to August 31, Ten posted a net loss of $280.9 million, a significant widening on the $14.04 million loss posted in fiscal 2012.

The underlying loss for the full year came in at $5 million, missing market expectations for $1.9 million.

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