News: TEN Ten Network enters voluntary administration

June 14 (Reuters) - Ten Network Holdings Ltd (TEN) :

• Ten Group enters voluntary administration
• Announces that Mark Korda, Jennifer Nettleton and Jarrod Villani of Korda Mentha appointed as voluntary administrators
• Identified initiatives that are expected to have a positive impact on earnings in order of at least $50 million in FY18
• Identified initiatives also expected to have a potentially more than $80 million per annum positive impact by FY19
• Reduction in licence costs for ten in FY17 will be in order of $22 million and, in FY18, $12 million