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Channel Ten posts a $ 227 million loss to fund new shows

Channel Ten records a staggering $ 227 million loss after the ‘year of investment’ from the network funding their ‘prime-time schedule’, including Dancing with the Stars, The Masked Singer and The Amazing Race

Channel Ten reportedly recorded a loss of $ 227 million in 2019.

The Australian Securities and Investment Commission has submitted documents that the network owner, ViacomCBS, has suffered losses, the Financial Overview reported.

The loss occurred the same year that Ten invested funding in new programs, including The Masked Singer, Dancing with the Stars and The Amazing Race.

Channel Ten recorded a loss of $ 227 million in 2019 after investing money in Dancing with the Stars, The Masked Singer and The Amazing Race. Depicted host Beau Ryan

Channel Ten recorded a loss of $ 227 million in 2019 after investing money in Dancing with the Stars, The Masked Singer and The Amazing Race. Depicted host Beau Ryan

“It was a year of investing at Ten as we shortened our prime-time schedule and set up our sales team for success,” a spokeswoman told the publication.

“The results of that investment are clear this year: growth in the number of viewers and viewers, and growth in the market share of TV ads.”

The loss included an impairment of $ 63.5 million against the network’s license and an impairment of $ 45.7 million against fixed assets.

Coming soon! This is after news Network Ten launches a fourth television channel later this year

Coming soon! This is after news Network Ten launches a fourth television channel later this year

Coming soon! This is after news Network Ten launches a fourth television channel later this year

This is after news Network Ten launches a fourth television channel later this year.

The broadcaster already has three free-to-air channels, including 10, Peach and Bold, but the new channel will “appeal to audiences under the age of fifty” and will focus on general entertainment, the report said TV tonight.

A launch date has not been announced, but the hitherto untitled multichannel will be available before the end of the year.

The channel may contain MTV content, according to The Music Network.

Multichannel: The new channel will 'appeal to audiences under the age of fifty,' said Beverley McGarvey, content boss for ViacomCBS Australia (photo)

Multichannel: The new channel will 'appeal to audiences under the age of fifty,' said Beverley McGarvey, content boss for ViacomCBS Australia (photo)

Multichannel: The new channel will ‘appeal to audiences under the age of fifty,’ said Beverley McGarvey, content boss for ViacomCBS Australia (photo)

A network spokesperson told Daily Mail Australia: “ViacomCBS Australia and New Zealand Chief Content Officer and Executive Vice President, Beverley McGarvey, announced today that Network 10 will unveil a fourth channel later this year.

In addition to 10, 10 Peach and 10 Bold, the fourth channel will appeal to audiences under fifty. Further announcements about the channel will be made in the coming months. ‘

She also acknowledged that the “new normal in Australia is very different” after COVID-19, viewers can still expect to see their favorite entertainment shows.

Good news: McGarvey also confirmed that Channel 10 continued with its planned 2020 schedule, despite widespread industry shutdowns. The Bachelor - who is interrupting production - will return this year, as will The Bachelorette. Picture: the Bachelor's Locky Gilbert

Good news: McGarvey also confirmed that Channel 10 continued with its planned 2020 schedule, despite widespread industry shutdowns. The Bachelor - who is interrupting production - will return this year, as will The Bachelorette. Picture: the Bachelor's Locky Gilbert

Good news: McGarvey also confirmed that Channel 10 continued with its planned 2020 schedule, despite widespread industry shutdowns. The Bachelor – who is interrupting production – will return this year, as will The Bachelorette. Picture: the Bachelor’s Locky Gilbert

The Bachelor – who is currently on a production break – will return this year, as will his sister show, The Bachelorette.

The Masked Singer is scheduled to begin production in Melbourne, but Judge Lindsay Lohan will likely film remotely from the US

I’m a celebrity … get me out of here! it is also said to continue until 2021, but is unlikely to be filmed in South Africa due to travel restrictions.

Changed plans! I'm a celebrity ... get me out of here! reportedly continuing until 2021, but is unlikely to be filmed in South Africa. In the photo: Julia Morris and Dr. Chris Brown

Changed plans! I'm a celebrity ... get me out of here! reportedly continuing until 2021, but is unlikely to be filmed in South Africa. In the photo: Julia Morris and Dr. Chris Brown

Changed plans! I’m a celebrity … get me out of here! reportedly continuing until 2021, but is unlikely to be filmed in South Africa. In the photo: Julia Morris and Dr. Chris Brown

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