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Eir in talks to buy Setanta Sports - report

2015-11-20 08:50:00| Telecompaper Headlines

(Telecompaper) Irish incumbent Eir is in talks to acquire the pay-TV provider Setanta Sports, the Irish Times reported. The paper's sources said the talks are at an advanced stage, with a deal likely to be completed in 2016. Mickey O'Rourke, Setanta's majority shareholder and co-founder, would remain with the business for a period after the deal is completed. Setanta operates two sports channels in Ireland and has production facilities in Dublin. Its channels are also shown in the UK through BT. The takeover by Eir is expected to strengthen the operator's TV offer in the face of increased competition from Virgin Media, which recently bought the TV channel TV3. It could also help Eir's valuation if it tries a stock market listing again or a sale of the company. Industry sources said the company could be worth up to EUR 20 million.

Tags: report buy sports talks