Ten Network Holdings Limited (ASX:TEN) has responded to speculation its sale of outdoor advertising division Eye Corp to private equity group Champ is in trouble.
Fairfax media has claimed the sale has encountered problems, with Champ reportedly raising concerns about the financial performance of Eye Corp during recent negotiations.
However Ten has insisted that discussions for the sale remain ongoing in an announcement to the market this morning.
The sale of Eyecorp was announced in July, encompassing its Australian, New Zealand, US, British and Indonesian businesses for about $145 million.
In the first half of the 2012 financial year Ten reported a net profit of $20 million.
TEN Price at posting:
30.7¢ Sentiment: None Disclosure: Held
