New TV channel secures €14m in funding

Ireland’s newest national television station has secured €14m in funding from investors, it was claimed today.

Channel 6, due to be launched this spring, will provide a broad range of movies, music, drama and comedy aimed at the 15-to-35 age-group.

The Dublin-based service will be the first national station in the Republic since TV3 in September 1998.

Channel 6 confirmed today it had secured €14m in funding from ACT Venture Capital, Delta Partners, Claret Capital, the Barry Family and the Gowan Group.

The broadcaster will also include local programming with fresh new home-grown talent.

Michael Murphy, founder and director of programmes said: “We are delighted to have the funding in place and we are looking forward to launching the channel in the near future.

“Channel 6 is committed to offering viewers and advertisers a home-grown, exciting, new national alternative by opening up the Irish television market.

“We look forward to offering viewers a vibrant programming schedule that showcases the best of international and local talent and critically, offers viewers an attractive, Irish choice.”

Details of Channel 6’s schedule will be released in the coming weeks.

Walter Hobbs of ACT Venture Capital said: “In leading the investment into Channel 6, we were persuaded by the huge depth of experience of the management team in the television and advertising industries and their clarity of focus on the market opportunity to better serve the 15-to-35 age-group with a new domestic television channel.”

Pat Donnelly, Channel 6 executive chairman, added that the station offered a good investment opportunity as the Irish television market is ripe for a new entrant.

“Channel 6 will provide advertisers with an effective platform to reach a highly-desirable demographic that is currently being serviced predominantly by foreign channels with no added value being offered to advertisers,” he claimed.

Recruitment of key management positions and employees is already underway and the channel shortly expects to announce a launch date in the spring.

Channel 6’s sales team is already in place and further personnel announcements will be made in the near future.