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UPC IRELAND HAS agreed a deal with equity fund Doughty Hanson to buy TV3 for €80 million.
The deal includes an additional contingent consideration of up to €7 million payable based on TV3 hitting certain targets.
The purchase price is expected to be substantially funded through existing liquidity. On completion of the acquisition, TV3 will become part of Liberty Global.
Doughty Hanson bought TV3 for €265 million in 2006.
Channels
TV3 operates two free-to-air channels, the flagship TV3 channel and the youth-oriented 3e.
In addition, it has TV3+1 on UPC and SKY, and 3PLAYER, the most widely distributed Video-on-Demand platform in the country. TV3 is the number one channel in Ireland after public broadcaster RTÉ1 with an audience share of 12%. In 2014, the TV3 Group achieved its best set of operating results since 2008.
New schedule
This year, TV3 launched a new schedule, which showed a shift towards more original programming, after UTV Ireland got the rights to ratings heavy hitters such as Coronation Street and Emmerdale.
In January, it successfully launched a new soap Red Rock, which has been viewed by 2.3 million people. This focus on originated content follows the opening in 2013 of the TV3 HD studio, Ireland’s largest TV studio.
Magnus Ternsjö, CEO of UPC Ireland, said: “We’re pleased to welcome TV3 to the Liberty Global family. The investment we are making today secures the long-term future of TV3″.
With its wide range of home-grown programming, TV3 holds a unique place in the heart of Irish viewers. This is a terrific addition to the TV service we offer – which is already the best in Ireland.
The acquisition will be subject to regulatory approval from the Competition and Consumer Protection Commission and a separate media plurality test by the Irish Government. It is expected the transaction will be cleared in the coming months.
As previously announced, UPC Ireland became part of Liberty Global’s UK subsidiary, Virgin Media, in December 2014. Deloitte acted as corporate finance advisor to Liberty Global.
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I’m a partner who became a dishwasher
Mow that is what I call a community. Congratulations one and all
A KP was always referred to as a pot washer..it’s only when Head chefs and restaurant owners respect the job they do and pay them that respect will they ever understand “All” the cogs that makes a restaurant succeed. Well done Noma.
* deserve
Anyone who has ever worked in a kitchen will tell you a good KP is worth two decent chefs.
Sonko Dishwasher. He should trade mark that and license the name out to a leading manufacturer.
he doesnt look a day over 30
Doesn’t look a day over 30…that’s the fairy liquid…soft on the hands
Fake news
Absolutely, restaurant that needs publicity for rebranding (and a new dishwasher as current dishwasher is getting old) comes up with cunning plan
So cynical. Best restaurant in the world probably has a waiting list doubt they need advertise. Plus giving away 33% of the company, hardly a publicity stunt
It doesn’t actually say equal ownership anywhere, so the truth could be a long way from 33%. You could give him 0.1% of the place, and he’d still be a co-owner
Wow such an amazing story. I’ll have a tan in a few weeks as well.
More leftist drivel. Look at this hardworking dishwasher who was refused entry to the UK by racists!
Your an idiot for going off the subject, it’s about what Noma did, not politics.
Very much is about politics.
Clearly you have no common sense, a business man gives his most loyal staff a reward, and u get all political? Effectively noma is for the people run by the people, a co-op, this makes good business sense,!!!
What a really stupid and insensitive headline. That’s disgraceful . Why could you not say a person who washed dishes?
Blame the headline for using the title that his now-partners use for him? Stop being such a PC orifice that excretes waste.
I was hoping he was joking!
I’d prefer “a washer of tableware” myself lol
Urgh… you know nothing, privilege ridden neoliberal.
I think you’ll find the proper term is table wear sanitation engineer.
…next time I’ve a complaint about a dirty plate in a restaurant I will request to discuss the matter with the chief shiny dish plate sanitation engineer. CHDPSE!!!
Someone on here has the ability to red thumb repeatedly given just 22 comments.strange weirdos.
People don’t want to crash the app, sure if there was a comment for every red thumb you got the server’d be on fire!
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