October 22, 2009 / 1:10 AM / 9 years ago

Australia TV firm Ten reports year loss

SYDNEY, Oct 22 (Reuters) - 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) ($1=1.079 Australian Dollar)

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