Endemol may come to aid of Setanta
Published 15/06/2009 | 12:02
Endemol, the television company behind Big Brother, is reported to be in talks about joining a rescue deal for sports broadcaster Setanta.
The Sunday Telegraph said Endemol and other investors were looking at injecting about £40 million in exchange for a controlling stake in Setanta, which has run into trouble after failing to retain one of its two packages of rights to show live Premier League football for the season after next.
The consortium is led by Access Industries, the company controlled by US-based tycoon Len Blavatnik. Access confirmed last Friday that it had submitted a plan to buy a majority stake in Setanta as part of a wider refinancing.
Mr Blavatnik’s business already has a small stake in Setanta, as well as an interest in TopUp TV, which sells Setanta to digital terrestrial viewers. It has around 1.2m subscribers, but that is short of the reported 1.9m it needs to break even.