Ten Network Holdings Ltd
(ASX:TEN) says it continues to see improvement in the Australian advertising market.
Chairman Nick Falloon told shareholders at the company’s annual general meeting that the network is also benefitting from its stronger 2009 ratings performance in renewal of negotiations with key advertising buying groups.
Mr Falloon says Ten has substantially completed its negotiations for 2010 with the major buying groups and these negotiations, coupled with its strong ratings performance in 2009, support the company’s ongoing goal of achieving a 30% share of revenue.
Mr Falloon says Ten continues to focus on cash flow management and cost control across the company.
Ten says on a normalized basis, it expects the increase in television costs in 2010 to be in line with CPI, consumer price index.
Network Ten says it is reviewing the company’s future dividend policy with a further update to be provided at its first half 2010 results announcement.
Ten Network Holdings reported a loss of $89.35 million for 2009.
