I think they should re-capitalise TEN (again). Pay out the debt, cancel that ridiculously onerous guarantor arrangement, and keep cash aside for buying up some fancy sporting event. The share price is indicating that about 60% of shareholder equity of $383m is gone.
We know that TEN will do a write-down of the licence, but there is very likely, imo, to be budget relief in May for said licence fees. How much TEN has been relying on debt for this half is another factor.
Results soon for this crazy falling knife.
TEN Price at posting:
46.0¢ Sentiment: None Disclosure: Not Held
