00:00Channel 10
00:01es wielding the axe
00:03as it grapples with what it calls
00:04a parlous financial situation
00:07Network executives told
00:09staff today 150 jobs
00:11would go and most of
00:1310's national news bulletins
00:14would be scrapped along with its
00:16breakfast program Wake Up
00:18Ben Worsley reports
00:20Wake Up to something new on 10
00:22With a new show comes fanfare
00:25and hope. It's an exciting day
00:27for Channel 10, what hopefully is going to be
00:28a pretty exciting ride. But the ride
00:30was bumpy. Wake Up's ratings
00:32never grew beyond 30,000
00:35and after six
00:36months it's over
00:37Its axing was confirmed today
00:40but there was much more. Three of
00:42the 10 networks four news programs
00:44will also go and its
00:46London and LA bureaus will shut
00:48150 jobs will
00:50be lost including nearly half
00:52the news staff. It's a very sad
00:54day for a lot of very good people
00:56Revenues are in the toilet
00:58and ratings are less than auspicious
01:00This is a struggling company
01:02The struggles aren't anything new
01:04Thank you very much for watching
01:06the last ever breakfast
01:08All good things must come to an end
01:09At 10 they have frequently
01:11At last count eight programs have been axed in three years
01:156.30 with George Negus was on air for just 10 months in 2011
01:20The same year the late news was cut before being resurrected
01:24The circle went in 2012 soon to be followed by breakfast
01:28If the first failure at first light wasn't enough of a wake up call
01:32they tried again, now that's gone too
01:34Along with the early news, morning news and tens late news
01:38So again the questions asked about the network's future
01:42With the share price this low and the media laws on ownership potentially changing later
01:48in the year there's definitely some interest from overseas
01:51Voluntary redundancies are being offered at the network
01:54Ben Worsley, ABC News
01:56Hello
01:57Hello
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