Virgin Media Limited has announced today that is has received regulatory and competition approval to acquire UTV Ireland.
Virgin Media offers four services across Ireland and the UK including broadband, TV, mobile phone and landline.
Tony Hanway, CEO of Virgin Media in Ireland, said: “We’re delighted to have received regulatory approval to acquire UTV Ireland. This follows our acquisition of TV3 last year and we look forward to playing an even bigger role in the Irish broadcasting sector.”
Pat Kiely, MD of TV3, said: “The purchase of UTV Ireland is good news for viewers and will support TV3 to further compete against significant local and international competition.”
The agreement also includes a comprehensive 10 year output deal in Ireland for ITV produced programming. The purchase price is expected to be funded through existing liquidity.
Virgin Media is the owner of TV3 - Ireland’s leading commercial broadcaster operating two free-to-air channels (TV3 and 3e) and a digital platform with a major emphasis on home produced programming. TV3 recently secured exclusive rights to Six Nations Rugby for four years from 2018 and 22 Euro 2016 matches.
Virgin Media is part of Liberty Global, the world’s largest international cable company, with operations in more than 30 countries.