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In 1989, Ten's ratings were in decline, so on 23 July 1989, recently recruited network boss Bob Shanks relaunched the network as 10 TV Australia and introduced several new programs, including four new prime time game shows.However, by the end of 1989 the ratings had failed to improve and most of the new programs were cancelled, except for its Eyewitness News newscasts, Neighbours and E Street (debuting in late 1988).When Murdoch became an American citizen in 1985 so that he could expand his media empire in the United States, Australia's media ownership laws obliged him to dispose of the flagship television stations, which were sold to The Northern Star, an offshoot of the Westfield Group conglomerate controlled by property tycoon Frank Lowy.However, Westfield was badly hit by the stock market crash of 1987, and in 1989 sold Network Ten to a consortium led by Charles Curran and former television journalist Steve Cosser.

The company was subject to an inquiry by the Australian Broadcasting Tribunal in relation to media ownership rules and had run into financial difficulties following the 1987 stock market crash two years earlier.

Following Ten's report of a 2 million half year loss and the subsequent loss of further bank loan guarantees from its shareholders, Ten announced that it was entering into voluntary administration on 14 June 2017.

From the introduction of TV in 1956 until 1965 there were only two commercial television networks in Australia, the National Television Network (now the Nine Network) and the Australian Television Network (now the Seven Network), as well as the public Australian Broadcasting Commission (now Corporation).

In the early 1960s, the Australian Government began canvassing the idea of licensing a third commercial television station in each capital city.

This decision was seen by some as a way for the government to defuse growing public dissatisfaction with the dominance of imported overseas programming and the paucity of local content.

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