At the very least Channel 10 will get the Big Bash (the T20 series) which while not the same as tests will attract a wider audience since games are only 3 hours and is therefore more exciting. This might also provide more scope for a wider range of advertisers so I think it is still a good result for Channel 10. Also the fact that they are looking at moving away from just targeting the younger audience to a more mixed set will also assist them as the risk is more spread (ie diversification).
As long as there is cash in the company (and it seems to be) I think the channel will be on the correct path (and who knows maybe even some dividends).
TEN Price at posting:
29.0¢ Sentiment: Hold Disclosure: Held