Your favourite Network Ten show is about to get axed
Your favourite Network Ten show is about to get axed, with reports suggesting many iconic Australian television programs are now on the chopping block.
Documents obtained by The Daily Telegraph suggest popular programs like Bondi Rescue, Shark Tank and The Biggest Loser are set to face the axe under secret management plans to cut costs at the beleaguered television network.
The five-year-plan was reportedly formulated in July when Ten went bust, and involves significant cuts to the news teams and relinquishing the rights to Formula 1 and V8 Supercars. The production of Family Feud would also be moved to Sydney.
The future looks brighter for Studio 10 fans however, as the economically run program could be set to run an additional hour as part of the money-saving scheme.
CBS, the American entertainment network that emerged as a last-minute white knight for Ten, has not yet indicated whether it will embrace cutback plans.
A Ten spokesman told The Tele: “It would be wrong and misleading to assume that any information given during the recent due diligence process will turn into firm plans.
“Interested parties were furnished with a range of documents a lot of information. Their plans for Ten are something that only they can comment on.”
KordaMentha, the administrator looking after the sale of Ten, told creditors on September 4 that should CBS prove successful in the takeover bid, “The business of the Ten Group will continue as usual and all employees will continue to be employed.”
Ten creditors and staff voted in favour of the CBS bid last month, but stakeholders are still waiting on approval from the corporate regulator due to be filed on October 10.
What’s your take? Do you think this is the right move by Ten?
Hero image credit: Network Ten