Losses widen for TV3 owners

THE company which directly owns TV3 saw its losses widen by more than €60 million last year while it also wrote-down the goodwill value of the business by nearly €119m.

Tullamore Beta Ltd – the company established to specifically run the broadcaster and its sister television channel, 3e; after British private equity house Doughty Hanson bought the business four years ago – saw total losses for 2009 increase to just under €165.3m from just under €104m in 2008.

The company’s operating loss more than doubled to €135.3m; while turnover declined from €62.4m to €54.3m.