By Dominic Powell and Emma Koehn.
The Ten Network has been placed into voluntary administration after shareholders Lachlan Murdoch and Bruce Gordon did not guarantee a $250 million loan to cover the stations $200 million debt, reports the Herald Sun.
Administrators from KordaMentha have been appointed, and are currently undergoing a financial and operational assessment of the business.
During this period, the administrators intend to continue operations as much as possible on a business as usual basis, the company said in a statement.
The directors of Ten regret very much that these circumstances have come to pass. They wish to take this opportunity to thank all Ten employees and contractors for their commitment a…
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