Setanta founders to table bid to buy out investors

LONDON - The founders of Setanta are planning a last-ditch bid for the broadcaster, in a final attempt to avoid being forced into administration.

Setanta... last ditch bid
Setanta... last ditch bid

Leonard Ryan and Michael O’Rourke, the co-chief executives of Setanta, are in emergency talks to secure financial backing for a deal that could enable them to buy out the company’s other investors, which include the private equity companies Doughty Handson and Balderton Capital. 

Setanta appeared to have closed its telephone subscription-sales and online subscription services yesterday, in a sign that it was close to going into administration.

The company is trying renegotiate key rights deals in an effort to cut costs in order to stay afloat. This week, BSkyB rebuffed a £50 million up-front payment that Setanta wanted for its Premier League football rights.

Become a member of Campaign from just £46 a quarter

Get the very latest news and insight from Campaign with unrestricted access to plus get exclusive discounts to Campaign events

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content


1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).