Setanta Sport on the brink of collapse.

[mournerambler]

http://business.timesonline.co.uk/tol/business/industry_sectors/media/article6451894.ece

Sat down yesterday to watch the Cork v Kerry game on Setanta Sports 2 only to find the channel was unavailable.
I phoned Setanta & was told that the GAA pulled the program at the last minute, I found this a bit strange & then someone told me they were close to going into adminastration.
This article confirms what I was told by my friend.

[GalwayBayBoy]

Sports Broadcaster Setanta on the Brink

By Ainsley Thomson

LONDON -- The board of privately held Setanta Sports Holdings Ltd. will hold an emergency meeting Monday amid press reports the sports broadcaster could file for insolvency as early as this week, people familiar with the matter said.

Financial-services firm Deloitte is set to step in as administrator unless the company can come up with a rescue plan, the people said.

The meeting comes after Setanta failed to make a £3 million ($4.8 million) payment to the Scottish Premier League for its soccer broadcast rights, due Monday.

Adding to the pressure on Setanta is a looming payment to England's Premier League of around £30 million due early next week.

Setanta declined to comment.

Setanta has been in discussions with its main investors -- Goldman Sachs, venture capital fund Balderton Capital, private-equity firm Doughty Hanson and hedge fund Montrica -- for the past six months to try to secure funding. A board meeting last Saturday reportedly have failed to secure a rescue deal.

The Dublin-based company paid £392 million for two of the six packages of Premiership, now the Premier League, broadcast rights.

However, in February the company only managed to secure one package for 2010 to 2013, while rival British Sky Broadcasting PLC got the others, casting doubt over Setanta's future.

News Corp, owner of Dow Jones, publisher of The Wall Street Journal, holds a roughly 39% stake in BSkyB.

[stpauls]

http://business.timesonline.co.uk/tol/business/industry_sectors/media/article6451894.ece

Sat down yesterday to watch the Cork v Kerry game on Setanta Sports 2 only to find the channel was unavailable.
I phoned Setanta & was told that the GAA pulled the program at the last minute, I found this a bit strange & then someone told me they were close to going into adminastration.
This article confirms what I was told by my friend.

nobody told Virgin then as they showed both games on Setanta 2 yesterday afternoon!! 

[BennyHarp]

This is really bad news - will this mean that we will get no GAA coverage in the UK or anywhere outside of ireland???

[Rav67]

This is really bad news - will this mean that we will get no GAA coverage in the UK or anywhere outside of ireland???

Ah feck.  Even the internet links were all through setanta.  Hopefully though if there is no paid-up outside-of-Ireland provider then rte.ie might be allowed to stop blocking the football coverage to exiles...

[Gaoth Dobhair Abu]

Crap, Setanta is the only reason we keep Virgin in the house!

[stephenite]

Ah for fcuks sake

[Gaoth Dobhair Abu]

Phoned Virgin a month or two ago and the lad said that they would change my charges (gave a slight reduction on what I was paying).
They sent out a letter confirming these changes, when I phoned back the next month to complain tat my bill had gone up (to be told tough everyones bills were going up!) I was informed that we were now being tied into another 12 month contract, even though I never signed anything and wasn't told about the contract on thte phone!

Am just wondering if I have anyway out of this contract with Virgin, have been with them for 3 years.

[mannix]

it sounds like the end is nigh for setanta, they lost a low ball bid to sky for premiership games lately and are not able to secure new customers.it was on radio 1 this morning.

[cavan4ever]

Rumour has it their now gone.

[leenie]

it was just on the 1 o clock news there that it is going into administration...

[Doogie Browser]

Have they committed large amounts to the GAA?  Does this mean the coverage will stop now?

Scottish Football is bound to suffer even more now as a result.

[Tempoman]

Anybody know what the story will be with regards subscriptions?? I have sky and subscribe to setanta, purely for the gaa (im in england). But i believe that there is a 2 month cancellation period.
Setanta going into administration wont immediately close them down.

[Donnellys Hollow]

Pity really. Can't see Sky taking on all the sport that Setanta are going to leave behind. (Magners League, Aussie Rules, SPL, Racing UK etc.)

[muppet]

Jaysus, I'm on the brink of collapse...............