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UPC IRELAND HAS agreed a deal with equity fund Doughty Hanson to buy TV3 for €80 million.
The deal includes an additional contingent consideration of up to €7 million payable based on TV3 hitting certain targets.
The purchase price is expected to be substantially funded through existing liquidity. On completion of the acquisition, TV3 will become part of Liberty Global.
Doughty Hanson bought TV3 for €265 million in 2006.
Channels
TV3 operates two free-to-air channels, the flagship TV3 channel and the youth-oriented 3e.
In addition, it has TV3+1 on UPC and SKY, and 3PLAYER, the most widely distributed Video-on-Demand platform in the country. TV3 is the number one channel in Ireland after public broadcaster RTÉ1 with an audience share of 12%. In 2014, the TV3 Group achieved its best set of operating results since 2008.
New schedule
This year, TV3 launched a new schedule, which showed a shift towards more original programming, after UTV Ireland got the rights to ratings heavy hitters such as Coronation Street and Emmerdale.
In January, it successfully launched a new soap Red Rock, which has been viewed by 2.3 million people. This focus on originated content follows the opening in 2013 of the TV3 HD studio, Ireland’s largest TV studio.
Magnus Ternsjö, CEO of UPC Ireland, said: “We’re pleased to welcome TV3 to the Liberty Global family. The investment we are making today secures the long-term future of TV3″.
With its wide range of home-grown programming, TV3 holds a unique place in the heart of Irish viewers. This is a terrific addition to the TV service we offer – which is already the best in Ireland.
The acquisition will be subject to regulatory approval from the Competition and Consumer Protection Commission and a separate media plurality test by the Irish Government. It is expected the transaction will be cleared in the coming months.
As previously announced, UPC Ireland became part of Liberty Global’s UK subsidiary, Virgin Media, in December 2014. Deloitte acted as corporate finance advisor to Liberty Global.
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Hailo’s message to Uber:……….. Fc*k Off we don’t wan’t competition.
Hailo are supposed to be in trouble over spending and no investment so uber def spells trouble for them
The journal will literally use any opportunity to mention the gay marriage referendum. Move on.
Gay people can get married now? Gosh, that must annoy certain types of people.
I had not noticed the passing reference to the free taxi service to the polling booths for the same sex marriage equality referendum until you drew it to my attention, RoN.
Clearly you would have preferred RoN to have had the service restricted to the opponents of same sex civil marriage.
Thank you for highlighting the Marriage Equality Referendum passed by more than 68% of those who voted.
This topic deserves another separate article so that RoN can get his full rant on.
When will companies and businesses in all industries cop on that they are not in any way simply entitled to your business? If they are out flanked by someone with an innovative idea, the onus is on them to either catch up or offer more appealing innovative ideas of their own.
In theory yes but it seems that the playing field isn’t level. Essentially they are both providing the same service but uber drivers are not vetted or regulated in any way and their costs are lower, for example insurance. Also, I don’t think uber drivers are taxed.
Harry Potters real?
No, just a fictional character who looks a bit like you.
Taxi service in Atlanta is dreadful, everyone i know uses uber and they rave about its convenience, low cost etc. I personally have only used it once and it was bang on, great idea, well executed.
Uber is incredible
Ireland is not Atlanta.
We dont need Uber destroying the jobs of licensed,regulated taxi drivers.
The industry is overcrowded as it is.
They are a scourge on the face of the earth.
The authorities have a responsibility to control this form of unbridled capitalism.
Can we all do part time work as civil servants/teachers/Gardai etc. and put them out of work.?
Not likely.
I hope that Uber is launched in its full form in Ireland, allowing those with a suitable car and a clean criminal background check to apply.
I used ubers multiple times in San Diego this summer and the system works brilliantly and is very cost effective too
No Hailo app for windowsphone…but there is an Uber app, so hailo for f**k off
In the U.S. UBER HAS STARTED DOING LOGISTICS NOW, will Hailo start doing the Ambulance service now???
we only have 12 ambulances in Dublin and these are fully stretched at this time of year… if you need to get to a hospital and a DFB ambulance will be another hour, why not get help?
I can see it happening with the TiSA Agreement privatised hospitals and ambulances, Uber is involved with logistics now. So god knows what the future will bring thanks to TTIP and the Trade in Services Agreement.
Many things are run down in order to change them and the excuse is cost but getting private firms to run things always costs more as the NHS model has shown and the same is starting to happen here now…
Help is one thing but cost will be another???
Given the wages of ambulance drivers, I am sure the government would love it.!
have your say