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Ten Network’s Holdings Limited (ASX:TEN) programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners.
The free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.
Shareholders voted in favour of the funding agreement at a lengthy and sometimes fiery annual general meeting.
Chairman Lachlan Murdoch said Ten's new digital platform, Tenplay, was generating significant growth for its online advertising revenue.
Ten booked a net loss of $278 million in fiscal 2013.
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