Ten Network has blamed falling advertising revenue and asset write-downs for a huge loss last financial year.

The television network's loss was worth $285 million in 2012-13, up from $12.9 million in the previous financial year.

It will not pay shareholders a final dividend.

The company's share price has fallen after the announcement.

At 11:30am (AEST) it was trading 1.7 per cent lower at 28.5 cents.

Ten has also announced that it is seeking a four-year, $200 million debt facility from the Commonwealth Bank.

The debt facility would be guaranteed by the network's major shareholders, James Packer, Lachlan Murdoch and Bruce Gordon.

Ten's chief executive Hamish McLennan thanked the three investors during an investor teleconference.

"Ten continues to be strongly supported by its major shareholders, who believe in Ten's turnaround and are supportive of Ten management's vision for the company," he said.

Shareholders will vote on the transaction at Ten's annual general meeting.

Ten's overall revenue for the year was $660.9 million for the year, down from $751.9 million in the previous year.

A write-down on the value of its television licence cost Ten $292.1 million, while restructuring cost the business $14.4 million.

Mr McLennan said the outlook for advertising revenue was "uncertain".

