Could be awhile before it reaches the 80c levels...I got out on...

Could be awhile before it reaches the 80c levels...I got out on Monday as i needed to invest elsewhere. But will be watching to see how this pans out.
This is from Business Spectator....

Ten Network to launch discounted capital raising.
Less than two months after Ten Network Ltd chief executive James Warburton ruled out the need for fresh equity, the struggling group looks set to launch a deeply discounted $225 million rescue capital raising, according to The Australian Financial Review.

The discounted capital raising – its second in six months – so soon after Mr Warburton ruled one out only serves to underscore the uncertainty facing Ten as it struggles to reverse a sliding performance.

The capital raising will raise the pressure on Mr Warburton and further speculation that Ten's board, led by chairman Lachlan Murdoch, is concerned about the company's outlook.

Ten stock is expected to be placed in a trading halt shortly, and the capital raising is expected to be used to pay down debt.

The new shares will be sold at about 20 cents a piece, according to the AFR, which would stand as a nearly 40 per cent discount on Ten's Tuesday close of 33 cents.

The capital raising is expected to receive support from Mr Murdoch and other Ten shareholders such as Gina Rinehart, James Packer, WIN Corporation founder Bruce Gordon and Hungry Jack's Jack Cowin, the AFR added.

Altogether, Mr Murdoch, Mrs Rinehart and Mr Packer have collectively lost more than $360 million on their Ten investments as the company's stock has lost about two-thirds of its value in 2012.