Network Ten (ASX:TEN) is benefiting from improved conditions in the Australian advertising market, and ad sales should return to normal some time in FY10, executive chairman Nick Falloon said.
Speaking at the company’s AGM, Falloon told investors that Ten was also able to negotiate stronger deals with advertising buying groups due to its stronger ratings performance in FY09.
“Network Ten has substantially completed its negotiations for 2010 with the major buying groups,” Falloon said. “These negotiations… support our ongoing goal of achieving a 30% share of revenue.”
Ten now has just five directors following the sell-down by Canada’s Canwest of its investment earlier this year, but is searching for more and anticipates making appointments in 2010, he added.