Ten poised to sell EYE Corp
July 11, 2012 09:25 AM
Ten Network Holdings Limited (ASX:TEN) is reportedly poised to sell its outdoor advertising business EYE Corp. According to media reports, analysts have suggested Ten will consider offers between $125 and $150 million. The media company announced in May that the board had entered into an exclusivity agreement with an undisclosed bidder for the purpose of due diligence. No further update on the negotiations have been formally announced. In the first half of the 2012 financial year Ten reported a net profit of $20 million.