Liberty Global linked to Setanta

LIBERTY Global, the US company which owns the Chorus/NTL cable and digital television companies, through its UPC subsidiary, has indicated an interest in buying the Irish division of Setanta Sports.

It was effectively put up for sale yesterday after its British arm went into receivership.

Liberty’s chief strategy officer Shane O’Neill was quoted yesterday as saying the company “would be interested in the Irish side of the business”, although some industry experts have expressed doubt over the likelihood that Liberty will end up as either an outright buyer or part of a takeover consortium.

It has also been confirmed that music promoter Denis Desmond has entered talks with Setanta’s receivers Deloitte, over buying the Irish business.

Mr Desmond – who heads up MCD – already owns 20% of Setanta Ireland, which is still profitable and not in receivership or administration.

Setanta’s two Irish founders, Michael O’Rourke and Leonard Ryan are also thought to be interested in both the Irish and international (North America, Africa, the Caribbean and Australia) broadcasting arms of the business, but they are likely to be part of a wider consortium.

Little is known of the possible timeframe for the sale of Setanta Ireland or its international business – one industry source said it could be “days or weeks”.

Deloitte was drafted in as receivers to Setanta’s British parent company, on Tuesday.

The move came after the company failed to meet the second of three payment deadlines for transmission rights for its English Premiership football coverage next season last Friday and an expected rescue bid headed up by Russian financier Len Blavatnik didn’t materialise. The Premier League pulled the plug on Setanta on Friday after the broadcaster failed to meet a final payment deadline, and on Tuesday announced ESPN as the replacement for their live games for next season and 2010-13. It is understood ITV will gain the rights for up to eight England away friendlies at a previously-agreed price, but all of Setanta's other rights will be up for grabs.