UPC’s €87m buy of TV3 to test rivals

Global communications giant Liberty Global, owner of television cable company UPC Ireland, has struck a deal to buy broadcaster TV3 for €87m, a development that will stiffen competition for RTÉ and the troubled fledgling station UTV Ireland.

The acquisition is only the second significant purchase anywhere in Europe of a television broadcaster by Liberty, and represents a statement of intent to expand TV3.

“UPC’s plan is to get behind us. It is part of a $42bn giant. They are buying us for growth and to invest in us for the long term,” said David McRedmond, chief executive at TV3.