As i understand it voluntary admin was necessary for a few reasons. One of which is that Ten are locked into onerous contracts with Fox USa (owned by Murdochs). The agreements are $140m per year for program rights. That = around 25% of tens total revenue. Not sustainable so by going into admin they can renegotiate.
Tens license is a rare commodity so they will be able to use that as a bargaining chip in what shape or form Ten will become who can tell but expect the contract (Murdoch owns that contract that is sucking Tens teat to death) to be canned or renegotiated which will ease their costs to enable them to meet commitments and turn the ship around slowly.
Ten will stay but shareholders will lose as usual but not the whole farm at least.
Just my opinion.
As i understand it voluntary admin was necessary for a few...
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