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CanWest's Australian operations report record half-year results

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CanWest Global Communications Corp.
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WINNIPEG - The TEN Group, the company which owns CanWest Global Communications' Australian television operations, reported consolidated revenues of A$416 million for the six-month period ended February 29, 2004.

That represents an increase of 17% over the same period last year.

The company also recorded EBITDA of A$157 million, which was up 37% from last years six-month total of A$115 million. CanWest holds a 56.6% interest in Network TEN.

In a company release, Nick Falloon, TEN's executive chairman, credited the growth to the company's rising ad market share, which he said was more than 30%. He also pointed to a strong television advertising market.

TEN's television schedule, where the majority of its revenue is derived, includes big broadcast events such as Big Brother, Australian Idol and the Australian Football League Finals, which have all been ratings and revenue leaders.

Revenue from the television division increased by 18% to A$377 million and television EBITDA to A$150 million, an increase of 34% over the same period last year.

CanWest received distributions in interest and dividends of A$103 million from Network TEN in January of this year. An interim dividend from TEN is expected to be declared in June and paid in July of this year.
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