Australia TV firm Ten reports year loss

Published: 21 Oct 2009 19:04:08 PST

SYDNEY, Oct 22 - Australian broadcaster Ten Network Holdings <TEN.AX> reported a heavy full-year loss on Thursday but said signs of a pickup in the advertising market was emerging.

The company, whose major shareholder CanWest Global Communications Inc <CGS.TO> recently sold out, posted a net loss of A$89.4 million ($82.9 million) for the year ended August 31 and a 47.4 percent slide in normalised earnings.

Earnings fell on a drop in revenue and some asset writedowns, but Ten said the result met its guidance for the year. (Reporting by Mark Bendeich; Editing by Denny Thomas)