Eir in talks to acquire television broadcaster Setanta Sports
According to the Irish Times, Ireland’s biggest telecoms group Eir is in talks to acquire television broadcaster Setanta Sports. Once the a deal gets regulatory approval the deal is likely to be completed in 2016.
Majority shareholder and co-founder of Setanta Sports, Mickey O’Rourke will remain with the TV broadcaster for a period after the deal is finalised. BT, which has a broadcast deal with Setanta Sports, is aware of the acquisition and approves of the deal going ahead.
Setanta currently operates two sports channels in Ireland and recently signed a multi-year extension deal with BT which offers BT’s sports channels to its customers.
The acquisition is part of Eir’s plan to aquire content for its television service, Eir Vision. The new TV platform is in competition with both Sky and Virgin Media.
A spokesman for Setanta Sports said “We can’t comment on media speculation. It’s very much business as normal prior to a very busy weekend of sport for us.”
The acquisition will secure Setanta’s long-term future, although it may have to operate under the Eir brand. It will also give Setanta added financial firepower to securing sports rights to enhance the quality of its productions.
It is not clear how much Eir would pay to acquisition with Setanta but sources say the company could be worth anything up to €20 million.
