Ten Network Holdings Ltd (ASX:TEN), Seven West Media and Nine Entertainment are set to benefit from the federal government’s extension of the licence fee rebate, that’s according to The Australian.
The extension could result in revenues at media companies being bolstered by as much as $165 million between them this year.
It’s understood the Communications Minister has advised the rebate should continue until the department’s convergence review on media regulation has been completed. The review is due to finish by March next year at the earliest.
In the six months to February 28, 2011 Ten reported a net profit of $49 million.
TEN Price at posting:
$1.11 Sentiment: None Disclosure: Held
