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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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As long as Vincent Brown is on TV 3 i will watch. I don’t want anymore gypsy weddings, fights or anything else gipsy.
They do love the oul Gypsies in fairness – can’t get enough of em.
2.3 million watched red rock? Over half the population? What for the first 2 and a half minutes of the first episode. Does that count?
If I had my way, the place would be full of ‘em.
I am thinking there won’t be much changes you cannot get any lower than the s_ite excluding Vincent Brown they are showing at the moment
let’s hope the programs improve
Love the understated delivery Richard.
Still better programmes than Rte.
And hopefully they will finally go to HD.
And sort out the TV3 player.
meanwhile UTV Ireland is sitting in the corner eating crayons
Expect price increases soon so.
Again.
Ditch UPC TV for Saor view
I need UPC unlimited broadband which allows me access free TV.
Have no quibbles about their broadband service to be honest.
TV3 is free.
,
Tv3 is the number one station after RTE by which me actually mean it’s the number two station ….but let’s just go with the fluffy PR stuff….,
Exactly
Yes grossly overpriced , no wonder they have the money to buy TV3.
Hope they keep Vinnie B can’t stand Lucy Kennedy bring back Syble she’s brilliant Also get mid day to change its topics that bloody Elanie Crowley all she can talk about is relation ships and men it’s crazy . No matter what happens in the world it’s the same old same old . She seems man mad . Change her or change the topics . Who picks them any way
Same Maureen, Vincent brown is the only show where real political questions get answered, hence why many fg and lab tds tend not to go on there. Personally I think it’s a lot better than the likes of prime time and leaders questions
Defoe have to keep VB for those vomits in the dial
VB where he doesn’t letter anyone answer?
tubs will be on the move over soon late late has died and you can bet he will jump ship before the cancel it
The Late Late show is suffering from an acute case of RTubridyitis.
A tv station can be bought for the price of a cheap soccer player! Surely VinB is worth that solo
Looks like Denis O’Brien could be the silent partner lol
How?
By keepin shtum
Just an educated guess, but Dinny O`Bribe ain`t anywhere near this deal, seeing as UPC is owned by Liberty Global, the world’s largest international cable company, They also appear to have a stake in ITV ( On 17 July 2014, Liberty Global acquired a 6.4% stake in ITV plc, valued at £481 million ) Also they own Virgin Media, So there could be interesting times ahead regarding programming.
If Dinny was to stick his nose in, I`m sure they would squash him like a Grape.
spare a thought for sammy sausages !
80 million? Wouldn’t have paid 5.
two terrible channels.
Upc let a load of staff go in Limerick recently to give those jobs to people in the Philippines for cost saving measures. Doesn’t seem like their short of a few bob buying that economic dustbin
Hope they get rid of that wannabe late late toy show they did last year!
Conventional TV stations will soon be a thing of the past….yer man who got 80 million is laughing
They paid €256m for it 9 years ago, that’s a serious drop in value/.
Means that smug fool Cagney will have to toadie up to someone new, and that Aidan fella might might take that gormless look off his fat head if there’s new bosses coming in
can’t wait for red rock to come back in 2 months and find out if the officer that got knocked down will live
UPC and TV3 are a match made in heaven…both SHITE, they’ll be wound up by the end of next year
A other price hike to pay for it upc
I hope that they keep Vincent Browne and his brilliant political program, it’s the only reason I turn on the tv other than that I watch shows that I want to watch without the brainwashing of adds etc on demand on the internet!
TV3 has stood up very well to the UTV Ireland challenge and hopefully this will boost the station.
Pity UPC won’t provide a service in rural Ireland as regardless of price customers do exist.
Can we get north Korean to bye RTE1
Don’t watch v Browne, it’s on too late and anyway he is an ignoramus, who is just as big a spoofer as any of the politicians he has on to herrang and make him feel smug. He is way dodgier than the most politicians, ask any of the creditors that were burned in all the publications that he started and the journalists that had the misfortune of working for him.
But then he impresses people of lesser intelligence and they love him so I suppose that is good for TV3
Tired of hearing about tv3 state of art HD studio yet they only broadcast in standard definition. Its like having the cart without the horse.
If Vincent brown was to go then so does my T.V.!!
Why do I get the feeling that some shareholders have been royally screwed…
Does this mean we’re going to see more Craig Doyle
have your say