Ten says discussions ongoing with EyeCorp

18 Oct 2012, 3:38 pm   -   Source: AAP
Ten Network's chief says talks with private equity over the sale of Eye Corp are ongoing. (AAP)

Ten Network's chief says talks with private equity over the sale of Eye Corp are ongoing. (AAP)

Ten says talks with private equity over the sale of Eye Corp are ongoing.

Ten Network Holdings chief executive James Warburton says discussions with Champ private equity over the sale of outdoor advertising business Eye Corp are ongoing.

Ten said on Wednesday Outdoor Media Operations, owned by Champ Private Equity, had terminated an agreement to buy Eye Corp for up to $145 million.

Speaking to media and analysts during Ten's full year results presentation on Thursday, Mr Warburton said talks between the parties were ongoing.

"We are still in discussions," Mr Warburton said in response to a question.

"The asset is held for sale in terms of the financial treatment, but we've also been very clear through the process that Eye is not for sale at any price.

"We will see how things play out there.

"I would love to be able to give you more flavour on Eye but obviously where we sit and the fact that we have reserved our legal rights we can't get into a lot more detail."

Mr Warburton the outcome of the discussion would have no impact on Ten's debt position.

"With or without a sale of Eye, we are within our covenants," Mr Warburton said.

  • Follow us: 
  • Follow us on Facebook
  • Follow us on Twitter
  • Follow us on Youtube