WINNIPEG – Consolidated revenues at CanWest Global Communications Corp.’s Australian television and out-of-home advertising operations were up 14% to A$237 million, while EBITDA was down 2% in the third quarter to A$30 million.
The Ten Television Network was healthy, reporting a 10% revenue growth and a 20% jump in EBITDA over the same period a year earlier, while the out-home-advertising operations, EYE Corp. absorbed A$4 million in start-up costs for its North American and U.K. businesses.
“Ten’s television segment achieved very strong third-quarter results, placing the company in a good position towards achieving its year end targets,” said CanWest MediaWorks International president Tom Strike. “The Ten Television Network’s ability to translate its ratings success into revenue growth and the recovering advertising market have delivered a solid third-quarter result.
Ten’s executive chairman Nick Falloon said he was confident the network would better last year’s financial year, as the network “largely held the record prime time audience share gains in our target 18-49 demographic achieved a year ago, and we expect to maintain the network’s competitive, consistent performance.”
The third-quarter financial results were released Tuesday, the day after CanWest stated it intended to retain its majority share in Ten. Ten had been on the selling block.
