Shares in Ten Network Holdings Limited (ASX:TEN) gained yesterday after spruiking audience growth and amid ongoing takeover speculation.
The media company says it ended the 2014 ratings year as the only free-to-air network to increase its audience among 25 to 54 year-olds.
Prime time audience growth in the age bracket rose 2.2 per cent over the year while total people audience grew 2.6 per cent.
CEO Hamish McLennan says the company’s strategy of focusing on 25 to 54s and Event TV was fully implemented from May this year.
Ten also advised yesterday the immediate resignation of director Paul Mallam amid speculation Discovery Communications and Foxtel are preparing to lob a bid.
Shares in Ten Network gained 4.08 per cent to close at $0.26 on Monday against a benchmark fall of 2 per cent.
Ten Network Holdings reported a net loss of $163.46 million in the 2014 financial year.
