Sydney - Thursday - July 3: (RWE Australian Business News) - Ten...

Sydney - Thursday - July 3: (RWE Australian Business News) - Ten
Network Holdings Ltd (ASX:TEN) is to undertake an on-market buyback of
up to 10pc of its issued shares over the next 12 months.
Executive chairman Mr Nick Falloon said: "Given the current TEN
share price, the proposed share buyback should deliver long-term value
to our shareholders."
Mr Falloon noted that changes to TEN's structure at the time of
the exchange by Canwest of its securities in late August 2007 had
allowed the TEN board to consider various options in relation to capital
management, so as to maximise returns to its shareholders.
Canwest has advised TEN that it will not participate in the
share buyback at this time.