Figures this week show commercial television network Ten continues its rough run, with a big drop in pre-tax earnings.

Ten’s earnings before one-off costs, interest tax and depreciation have fallen to $10.1 million in the six months to February 28, 2014, leading to an $8 million net loss.

The loss may not seem too bad compared to last year’s figures, which showed a $243.3 million loss at this time. But last year’s downturn was the result of $304 million in one-off costs including $244.8 million in licence write-downs and restructuring.

Ten’s sliver of glory comes in its television revenue rising 4.4 per cent to $315 million, higher than the average capital city free-to-air growth rate.

The network points to the broadcast of the Big Bash T20 competition and some Sochi Winter Olympics coverage as the biggest drawcards in the last twelve months.

Chief executive Hamish McLennan said in a statement accompanying the numbers that sports continues to be a winner while much of the rest of the programming falls flat.

“We have consistently said that it will take time to improve Ten's ratings, revenue, earnings and returns to shareholders,” he wrote.

“Our sport, evening news and current affairs programs are performing well... but the Ten channel's general entertainment content and scheduling has under-performed and needs to be improved,” he said.

Market analysts say there is no reason Ten should not be playing on a level field with Seven and Nine.

The station is owned by some of Australia’s most prominent investors, including Lachlan Murdoch, Gina Rinehart and James Packer.

Roger Colman, a former Ten employee and now head of analyst firm CCZ has blamed the company’s corporate culture and decision-making.

“All three networks have essentially the same licence value - they all have five capital cities which they broadcast in - and the only difference between the performance of the networks is the people that populate the operations,” he said in an interview with the ABC.

“The people at Seven Network and Nine Network are making successful programming choices, Ten is not.”

Mr Colman says the network should tap into the deep pool of expertise through its links to Rupert Murdoch's Fox entertainment empire, as his son Lachlan Murdoch holds nearly 9 per cent.

He also says a buy-out is not out of the question.

“At 25 cents, $700 million for five capital cities licence, the only difference [with the other networks] is the people in it, there's the chance of a takeover ultimately in the long term, it's a cheap asset on the international field.”