Television is a highly cyclical business and this had to happen eventually. Of course, all market share gained by TEN is scalp taken from Seven and Nine. This is the nature of the industry though. It wasn't that long ago that Ten was the number-one network.
People will talk a lot about the structural change to the business, but remember that we're playing in a different shareprice range too. All Broadcast networks had share prices of several dollars. Now we're kicking around in the sub-$1 range.
The main thing is that Ten is seemingly now in a position to take a large a larger share of the ad market pie – albeit a smaller pie overall than in years gone by.
TEN Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
