(Recasts and adds background)
SYDNEY, July 3 (Reuters) - Australia's Ten Network Holdings Ltd (TEN), currently under administration, said on Monday receivers had been appointed to negotiate existing debt and that it had secured A$30 million ($23 million) in funding to keep the company afloat until Aug. 31.
Receivers PPB Advisory said the announcement meant Ten would "trade as a going concern" as the sale of the network's business and assets continued.
Last month, the TV broadcaster's administrator said that three Australian business magnates plan to financially support the network until it finds a buyer, adding that there had been "quite a number" of expressions of interest from potential acquirers.
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Co-Chairman Lachlan Murdoch, regional TV boss Bruce Gordon and Crown Resorts' (CWN) James Packer own a combined 29.7 percent of the struggling free-to-air broadcaster and their support is essential if it is to survive a savage audience downturn which has hammered advertising sales. Administrators were called in last month after Murdoch and Gordon declined to extend support for a A$200 million ($152 million) debt facility past 2017, but the move was widely seen as a necessary step to help it re-negotiate costly content licensing fees with U.S. production studios. ($1 = 1.3016 Australian dollars)
