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Ten Network Holdings Limited (ASX:TEN) has reported a net loss of $243 million for the first half of fiscal 2013.

 

The result was hit by redundancy payouts and over $300 million in restructuring and impairment charges.

 

The broadcast media company says revenue fell 21.9 per cent, blaming poor ratings.

 

Ten Chief Executive officer Hamish McLennan says the media advertising market remains subdued and is unsure when conditions will pick up.

Ten did not declare an interim dividend.

Shares in Ten are trading 3.39 per cent higher to 30.5 cents.