TV3 parent eyes UTV Ireland buyout

US billionaire John Malone’s Virgin Media — which owns TV3 and the UPC cable operator — is reportedly poised to buy out rival broadcaster UTV Ireland, sparking fears for jobs at the fledgeling broadcaster.

Mr Malone’s holding giant, Liberty Global, which is valued at over €24.5bn, has long been expanding its reach across Europe, snapping up television production firms as it positions itself to produce media content.

Mr Malone’s Virgin Media unit acquired TV3, based in south west Dublin, in a deal worth €87m last year.