Ten Network Holdings Limited (ASX:TEN) and its commercial network competitors Nine and Seven are rallying for increased advertising rates.
Today’s AFR says Nine Entertainment’s group sales and marketing director, Peter Wiltshire, said the company’s likely to ask for an average rate rise of five per cent. Meanwhile, Ten’s chief Lachlan Murdoch will push for a two to three per cent rise.
The report comes despite the weakened state of the ad market, and as the television networks prepare for annual negotiations over next year’s rates and deals.
Ten Network Holdings Limited (ASX:TEN) reported a net profit of $49 million for the six months to February 28.
TEN Price at posting:
84.5¢ Sentiment: None Disclosure: Held
