Setanta TV gets major funding boost
Monday, December 11th, 2006
Sports channel Setanta today announced that it has signed agreements worth €315m with a number of private equity firms, providing the company with a major funding boost as it prepares to cover Barclays Premiership football next season. In May, Setanta paid Ł392m (€579m) for the rights to 46 games each season for the next three years. Last week BT announced it would be streaming Setanta’s live Premiership coverage on its new television service, BT Vision.
Setanta said it will use the money to pay for the rights, as well as market the service and bring in presenters and producers to front the coverage. The company also intends to spend some of the cash on its new 24-hour golf channel, which launches in January and will feature live US PGA tournaments.
(Source: Setanta via Ray Woodward)
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