WINNIPEG – Canwest Global Communications, which owns approximately 57% of Ten Network Holdings, announced that the Australian company saw decreases in revenue and EBITDA in their first quarter of fiscal 2009.
Ten reported consolidated revenues and EBITDA of A$292.3 million and A$91.6 million, respectively. This compared to consolidated revenues of A$327.0 and consolidated EBITDA of A$122.5 million reported in the corresponding period in fiscal 2008.
Specifically, revenue from the Ten television network division was A$244.8 million, which is 12% lower than the same time last year, while revenue from Eye, the multi-national out-of-home advertising business, was broadly in line with the prior year of A$48.6 million.
"Ten Holdings is a valuable asset in which Canwest has confidence and which continues to make a positive contribution to the Company. Ten Holdings continues to have strong profit margins, a strong presence in the high growth out-of-home sector, and a television business that is expanding its platforms via new channels and digital media, and has transformed itself to be completely digital at the back end," said Leonard Asper, Canwest’s president and CEO, in the statement.
