WINNIPEG – At CanWest Global’s Australian operations, Ten Network Holdings, first quarter 2008 consolidated revenue increased 11% and consolidated EBITDA by 14%, driven by solid ratings from the television division and increased revenues from the out-of-home advertising operations, the company announced today.
Ten owns and operates the Ten Television Network in Australia and EYE Corp.’s growing multi-national out-of-home advertising business. CanWest owns approximately 56% of Ten.
For the quarter, Ten reported consolidated revenue of A$327 million, 11% more than the same quarter in the previous fiscal year. Consolidated EBITDA for the year increased by 14% to A$123 million.
Ten also announced that it had declared a dividend of A$0.10 per share to be paid January 4 2008, an increase over the A$0.09 dividend per share that was declared and paid in the corresponding period last year. CanWest expects to receive a dividend payment of approximately A$52.3 million (approximately C$46.5 million at current foreign currency exchange rates).
Ten’s first quarter television EBITDA jumped 18% as the network completed the 2007 ratings year with its highest-ever prime time commercial share in the 18-49 demographic, the seventh straight year of winning the 16-39 year old demographic, improved share of the 25-54 year old group, and the outright win among all age groups in daytime television (9am-5pm, Monday-Friday).
