0/5

TEN in talks to sell off EYE Corp.

Following a strategic review, TEN is in discussions with a potential buyer for its outdoor advertising arm, EYE Corp.

TEN is looking to sell off its outdoor advertising arm, EYE Corp.

This follows a strategic review that was undertaken by the parent company.

Recent news has speculated that France’s JCDecaux pulled out of bidding leaving Australian bidder APN News & Media as a potential buyer.

Today in a statement TEN advises it has had several approaches and, “… the Company has today entered into an exclusivity agreement with one of the bidders, pursuant to which the bidder will be given access to undertake detailed due diligence.

“The Company will update the market further once these negotiations have been completed but notes that, at this time, there remains no certainty that any transaction will be completed.”

4 Responses

  1. Seems like a bad idea – TEN already don’t have the budget to do advertisements of their programs – the loss of Eye Corp will mean they will be reducing the amount of outdoor advertising.
    Ten better hope they win these NRL Rights….

  2. Well half of their billboards are of TEN’s own shows.

    Parent Company buying what the ‘child’ company is selling I would imagine would not be a long term successful strategy.

  3. I don’t understand why they are selling it off. Don’t they want to make money in this industry? I thought the current partnership was a good one. If Ten wasn’t doing so well then its out door advertising arm would pick up the slack. If they complete this transaction then they will not have a buffer when ad rates go down when the ratings fall away. Just relying on tv and online revenue is not enough. Bad decision but i guess they are in a continous process of de-levereging.

Leave a Reply