Irish telecom Eir "is in talks to acquire" Dublin-based pay-TV broadcaster Setanta Sports, according to Ciarán Hancock of the IRISH TIMES. Talks are "at an advanced stage" with a deal likely to be completed in '16, subject to regulatory approval and competition clearance. It is understood that Setanta Majority Shareholder and Co-Founder Mickey O'Rourke would "remain with the business for a period after a deal is completed." Setanta operates two sports channels in Ireland and has "hi-tech production facilities" in Dublin's city center. This is part of an "ambitious move" by Eir to acquire content for its Eir Vision TV platform and to "bolster its competitive position against rival cable TV and broadband provider Virgin Media," which is owned by American businessman John Malone. This deal will be seen as a move by Eir's board to "bolster its business offering in advance of either another attempt to list on the stock market or a possible trade sale." For Setanta, a deal would secure its long-term future, "although possibly under the Eir brand." It gives it added "financial firepower" to secure sports rights and to enhance the quality of its productions. It is "not clear how much Eir would pay to acquire Setanta" but industry sources said that the company could be worth up to €20M ($21.3M) (IRISH TIMES, 11/20).
