Ten Network deal with Foxtel still in balance

Hopes that Ten Network Holdings would secure its long-term financial future before its half-year results on Thursday appear to have been dashed, with the broadcaster yet to agree to a potential investment from Foxtel, it is understood.

Foxtel is close to agreeing a deal through which it would take a 14.9 per cent stake in the third-placed commercial free-to-air broadcaster, which has dragged out its strategic review process for six months.