CanWest to sell stake in TV3

Round Cable

Link: http://www.rte.ie/business/2006/0116/tv3.html

I wonder would this be a chance for Granada to take control of the whole channel?

mike65

Definitly, its what they want is'nt it? ITV 'Eire'!

Mike.

flogen

How much would that stake be expected to go for anyway?
If I win the Euromillions, and I can afford to, I'll do my best to buy it up and get some homegrown stuff on there.
I promise!

Telefís

How very noble flogen

What an interesting development, though it was only a matter of time. This move was on the cards before when CanWest were reorganising - TV3 survived that time round.

Most certainly looks like Granada will move in for the full 90% now, especially as TV3's begun reporting very nice profits, not least for last year's final quarter I've heard.

As much as we decry some the sh*te put on as part of the ITVisation of the station, I can only see this as being a good move. It will mean that stream of cheap American programming will no longer be so freely available via CanWest Global which is a mjor boost.
Secondly and more importantly, Granada have a strong history of programme making, and are used to operating in a stringent, tightly regulated broadcasting environment in the UK. This can only mean good things for Ireland given the current state of affairs at TV3 - it can only get better.
Also, in the context of a licence renewal in 2007/08, Granada are likely to be much more receptive, if not quite welcoming, to an incresed commitment to home-produced content than CanWest, who operate buy 'em in, churn 'em out operations all over the world.

Broadly good news.

Mossy Monk

less of the american crap that canwest brings in would be good. but more of what ITV show is a bad move imo

flogen

Telef&#237 wrote: »

How very noble flogen

What an interesting development, though it was only a matter of time. This move was on the cards before when CanWest were reorganising - TV3 survived that time round.

Most certainly looks like Granada will move in for the full 90% now, especially as TV3's begun reporting very nice profits, not least for last year's final quarter I've heard.

As much as we decry some the sh*te put on as part of the ITVisation of the station, I can only see this as being a good move. It will mean that stream of cheap American programming will no longer be so freely available via CanWest Global which is a mjor boost.
Secondly and more importantly, Granada have a strong history of programme making, and are used to operating in a stringent, tightly regulated broadcasting environment in the UK. This can only mean good things for Ireland given the current state of affairs at TV3 - it can only get better.
Also, in the context of a licence renewal in 2007/08, Granada are likely to be much more receptive, if not quite welcoming, to an incresed commitment to home-produced content than CanWest, who operate buy 'em in, churn 'em out operations all over the world.

Broadly good news.

Oh I know!

Yeah, it's a bit of a mixed bag, really. 6 of one, half dozen of the other as they say.
CanWest pulling out will mean less US crap, but Granada moving in to take full control will mean more UK content. As it stands I don't understand how tv3 can get any viewers for shows like Coronation St, when UTV air it at the same time, but anyway.
The licence renewal may mean they're forced to make more Irish content, but one thing is for sure, they'll need new offices/studios, apparently TV3 is tiny, just enough room for their news and sport output, and nothing more.

Telefís

Yes, they're a very small operation. Indeed an interesting development arose when they went to make The Weakest Link - they were forced to come crawling over to Montrose for help heh heh

And if anything, surely more studio production is the very least they could invest in given how cheap and easy it is to make. It'd be a start at least, which is why it is surprising such modest facilites were built at the time in 1997. Hopefully Granada, masters of the art, will make some investment in this department. Whilst the production values in TV3 are quite high, their programmes at the end of the day have a very amaterish quality to them by definition of their studios' limited sizes. Having more, and better made studio programmes alone would be a huge boost.

Indeed that's another area Granada could impove in - bring some ruthless British efficiency to Irish production values. Shaming RTÉ into improving their production values would be a major step forward in my book

Yes, more populist UK housewives tat is not exactly an appealing prospect for TV3, but frankly anything is better than the bottom-of-the-barrel series CanWest dredge up from goodness knows where in the US - that muck is by far the worst aspect of TV3, all those bargain basement low-rent heart-string tuggers of dramas, and all the emotional tear-laden tripe they shovel in wherever they can. To be rid of these productions, and more crucially all those feckin slushy promotions for them is reason enough to welcome Granada with open arms!

watty

flogen wrote:

... As it stands I don't understand how tv3 can get any viewers for shows like Coronation St, when UTV air it at the same time, but anyway. ...

The licence renewal may mean they're forced to make more Irish content, but one thing is for sure, they'll need new offices/studios, apparently TV3 is tiny, just enough room for their news and sport output, and nothing more.

The 25% to 35% of viewers who don't get UTV (yet)? The penny hasn't quite dropped with general public that All ITV (5+ regions) and all BBC (8ish + regions) are all free anywhere in Ireland at about a once off 300 Euro.


Licence renewal: We Wish!

DMC

Yes, licence renewal.

Who'd buy a share in a company when its licence is due for renewal in a year or twos time? And I think this is the second time this kite was flown by CanWest in recent years.

bk

DMC wrote:

Yes, licence renewal.

Who'd buy a share in a company when its licence is due for renewal in a year or twos time? And I think this is the second time this kite was flown by CanWest in recent years.

While I don't like TV3. the actual chance of them actually loosing the licence is zero. So no buyer is going to be too worried about that.

DMC

Dont count on that, City Channel and Channel 6 are positioning themselves....

Genghis

I can't understand people welcoming this move. Ever since ITV began to get involved with TV3 it has become more and more a clone of ITV1 in the UK. ITV1 in the UK, imho, has been in decline for some time, focussing on populist tat that guarantee audiences rather than trying to create something. If you are unsure what I mean, just look to some of the "innovation" that ITV now offer:

Coronation St - 5 times a week (up from 2, then 3, then 4, now 5 - talk about diluting quality)

Soapstar Superstar - run for 90 minutes, nine nights in a row. Followed on with hours more content on ITV2. Safe, commercial viewing with text ins every night, even if it doesn't sell ads it probably covers the costs with texts.

I'm a celebrity - ditto.

Sudoko challenge / Quizmania - has turned post-midnight broadcasting on ITV into the worst in satellite "live" TV - text in to win competition.

Do I need to mention Celebrity Fit Club, Supersize Surgery, Police Camera Action, Holiday Showdown (that's just tonights feast of programmes).

There was a time when ITV challenged the BBC with News (ITN, which has also been washed down), Docmentaries (World in Action), Sport (Snooker, top flight football), Sitcoms, Drama, etc. Now I would say that it doesn't even challenge Channel 5 or Sky One.

I am not unrealistic about the world of TV broadcasting. TV3 will be owned by an international broadcaster. But if it has to be anyone, let it not be ITV. Not only becasue they have so little to offer, but also because we can all access it already.

IMHO I would prefer to see Five buying TV3, possibly in conjunction with an Irish bidder (Setanta, Channel Six, some of the radio holdings companies in Ireland) - at least then we'd have more choice.

bk

DMC wrote:

Dont count on that, City Channel and Channel 6 are positioning themselves....

They are positioning themselves for access and a good position on DTT and the other Digital platforms. They don't expect to get the analogue license. Everyone knows that the government doesn't have the balls to make such a drastic change. Just look at how Eircom has comreg and the government running scared in the telco/bb market.

Telefís

Yes, I can't a change being made, nor Granada being concerned over the pending licence renewal. It's still a miracle we have commercial television in this country at all so I doubt anyone will want to jeopardise that.

Fair enough points about ITV Genghis, though outside of the soaps and the one-offs like CelebrityGMOH/Soapstar Superstar there isn't anything worse that Granada can offer us that CanWest didn't. I know, it's such a shame to have to consider TV3 in terms of how bad thigs could be, but I think that's the reality of the commerical television sector in small countries - you're wide open to be eaten up by whoever decides they want you.
Interesting that CanWest wanted to buy Five a few years ago too, but either weren't allowed or didn't have the money...

TV3 is already overrun by ITV content - that's not going to change regardless of who takes over, so it might as well be a relatively responsible broadcaster like Granada. ITV most certainly has lowered its standards over the past five years - I don't watch any of their content except the odd Coronation Street. Even News is tabloidy, ridiculously contrived and packed full of gimmicks. A well matched sister for TV3 News so.

DMC

bk wrote:

They are positioning themselves for access and a good position on DTT and the other Digital platforms. They don't expect to get the analogue license. Everyone knows that the government doesn't have the balls to make such a drastic change. Just look at how Eircom has comreg and the government running scared in the telco/bb market.

Television is mildly different in this regard. The government don't control this decision. The BCI does, and in the past have changed the status quo. NWR thought they were safe until the BCI gave the ILR franchise for Sligo/North Leitrim/South Donegal to Ocean FM.

And I'm know that the BCI will look very favourably on a challenger that will up the home produced content on the commercial channel.

Would UTV throw their hat in the ring for the TV3 licence?

BowWow

Anyone any thoughts on TV3 going FTA on satellite if Granada purchase the Canwest shareholding?

Mossy Monk

not until their contract with Sky is up in 2008

byte

What if UTV bid for CanWest's 45% stake?
Hehe, that would fairly rile Granada!

What would happen if Granada decided to sell their 45% too! :eek: Unlikely but still..

robert muldoon

byte wrote:

What if UTV bid for CanWest's 45% stake?
Hehe, that would fairly rile Granada!

What would happen if Granada decided to sell their 45% too! :eek: Unlikely but still..

Ar'nt UTV mad keen to get into the ROI Sky platform? so why not buy granada 's share with Can West and there it is!. It sounds the obvious course to me,they are cash rich

Telefís

That is what they wanted to do when TV3 started up but were prevented in doing so by the former BCI as they would only allow UTV to take a stake if they pulled their existing UTV channel from cable in Ireland to give TV3 a chance to establish themselves.
Suffice to say the penetration into the Republic was was far more valuable to them than a 30% stake in TV3 so they angrily withdrew.

Things have changed a lot since then though - apparently the chitter chatter within TV3 is that it will either be ITV plc (Granada) or UTV - hardly a revelation now, but at least it seems as if there's nobody else on the cards to swoop in.

Elmo

Well it will be nice to see the end of the bad American Imports on TV3 that come from Canwest however its not like ITV produce the best in British TV. Soap, Reality TV and Some dreadful miniseries starring Caroline Quinntin.

But it all depends on weather or not ITV want TV3. Also should ITV take the stake in TV3 won't the Minister and BCI have to agree to the sale?

I think it is strange that they have first go at buying the rights before they have any agreement coming from the BCI and the Minister.

Hopefully ITV will look at it more as a national station than a company they can milk for all its worth.

flogen

Listening to Eamon Dunphy there and Setanta are one of the names tied to the deal, I think this would interest me the most, however I wonder if they can just do sport or have they got anything else up their sleeves?
Apparently they now have the rights to the next Rugby World Cup, beating RTE to it, which means they have cash to spare, they were also linked to NTL when it was on the rocks....
interesting.
Also mentioned, Stockbrokers Goodbodys put the state at around €80-€90million, which means that I should be able to afford it with my euromillions win!

Mossy Monk

flogen wrote:

they now have the rights to the next Rugby World Cup, beating RTE to it

praise jesus for foreign channels that will also be showing this event

Elmo

Well if Setanta get involved they will at least have some interest in Irish Productions.

If they do, Tervor Welsh and co. may have to pack up their desks. Economies of Scale and all that.

Our man in Havana

Elmo wrote:

Well if Setanta get involved they will at least have some interest in Irish Productions.

If they do, Tervor Welsh and co. may have to pack up their desks. Economies of Scale and all that.

Claire Byrne and that NZ yoke can follow him out the door!

Mossy Monk

Trevor Welsh off the tv would never be a bad thing

DMC

flogen wrote:

Apparently they now have the rights to the next Rugby World Cup, beating RTE to it, which means they have cash to spare, they were also linked to NTL when it was on the rocks....

The games involving Ireland in the Rugby World Cup are on the protected sports list.

I don't see anywhere that Setanta have the RWC, got a link? They do have the North American rights, iirc...

bk

flogen wrote:

Apparently they now have the rights to the next Rugby World Cup, beating RTE to it,

I hope not, they'll only destroy it with cheap production values like they did when they took over Formula 1 from RTE. I never watch F1 on Setanta, I always watch UTV and now it looks like I'll be watching Rugby on BBC.

Setanta is the worst plague to ever hit the Irish TV scene.

DMC

ITV still have the RWC, btw, long term deal.

flogen

DMC wrote:

The games involving Ireland in the Rugby World Cup are on the protected sports list.

I don't see anywhere that Setanta have the RWC, got a link? They do have the North American rights, iirc...

Sorry, just heard it mentioned on the eamon dunphy show during the week, he said he read it in the Irish Times, I didn't read it myself though.

DMC

And Matt Cooper mentioned it this evening. His guest was moderatly clueless, though.

mike65

Big article in the Sunday Turbine and also Sunday Times

ITV could be forced to sell its 45% stake in TV3 if it does not buy CanWest’s shareholding in Ireland’s third television channel, which was put up for sale last week.

According to informed sources, the shareholders agreement between the two sides includes a provision that gives ITV first option on buying CanWest’s 45% stake in the company. If it declines, CanWest could trigger a clause whereby ITV would have to sell its stake in TV3 for the same price at which CanWest is selling out.

Neither side was willing to confirm this. Details of the shareholders agreement could emerge when CanWest produces an information memorandum for interested parties in the next week or two. The sale is being handled by Hawkpoint, a corporate adviser in London.

CanWest, which has managerial control of TV3, is believed to have offered its stake to ITV a couple of times since ITV became an investor in 2001. Each time, ITV was unwilling to meet CanWest’s valuation.

The three Irish investors, founder James Morris, U2 manager Paul McGuinness and accountant Ossie Kilkenny, are also expected to sell their stakes in the business. The trio own 10% of the equity, although they have no voting rights.

TV3 has been valued at more than €200m by analysts. After eight years on air, the company is now profitable. Figures for the year to the end of last August have yet to be released, but the station is believed to have achieved a turnover of €48m. Its earnings before interest, tax, depreciation and amortisation are expected to come in at €15m, a 50% increase on the 2003 figure, when the company was still loss-making.

The Trib article states as fact that ITV have to buy out or loose it all.

Mike.

JohnC.

Not that they have to buy or lose it. More like they have to buy or lose it if CanWest wishes to implement a clause. If CanWest doesn't implement it, they don't have a problem. Thats how I read it anyway.

flogen

mike65 wrote:

The Trib article states as fact that ITV have to buy out or loose it all.

Mike.

That would be interesting.

I mean, while setanta has been named as a possible suitor I think everyone expects ITV to make a move; the fact that they've turned down previous offers (although CanWest may have been blowing it out their ass with the asking price) would suggest that their not as keen as people may think.
Now, who would be the most likely buyer? A number of groups? Would/could setanta go for the 90%? News International?!!

More importantly, would we see an end to (i)tv3 with an ITV pull out? No more simulcasts of Corrie and Emerdale? Looks like it's more US shíte or, God forbid, home grown entertainment!

My Euromillions deal still stands, and it looks like this weeks jackpot will allow me to buy a large majority shareholding!

Elmo

Well I hope setanta get to Buy TV3 rather then ITV.

As for the RWC 2007 and setanta


From The Sunday Times

RTE losing ground on rugby rights

Another bad week for the IRB, and an even worse one for RTE, who have been out-gunned by Setanta, the dedicated pay-per-view Irish sports channel, for the broadcasting rights to the Rugby World Cup 2007.

Having already lost the Heineken Cup to Sky as of next season, the station’s rugby coverage is beginning to look decidedly flimsy. The news was leaked only this week — despite an IRB spokesman claiming ‘nothing has been finalised’ — but RTE have known about it for months. They claim to have made ‘a serious bid’ that was a significant financial increase on their 2003 World Cup package and heavy on promotion of the sport. Yet now they have to negotiate (in tandem with TG4 and TV3) with Setanta on a deal to show Ireland’s games, which are ‘listed’ and therefore must be available on free-to-air television.

RTE are not the only losers, of course. About 750,000 Irish households — that’s half the population — cannot access Setanta, even if they did wish to subscribe.

Rugby will lose out, too. Fifa, Uefa and the International Olympic Committee ensure their major events are free-to-air because they understand the shop window principle. Irish rugby, with its fickle audience, needs maximum exposure to build on the success of Munster and the international team. ‘It’s short-sighted of the IRB,’ said an RTE source. The IRB would probably argue that Irish viewers can tune into ITV to follow the tournament free-to-air. And that, as well as their clandestine dealings over the voting for the 2011 World Cup, tells you all you need to know about the IRB.

Telefís

Where the heck are Setanta going to get €250 million from?!!!
And secondly, how would they operate the station with absolutely no international links?! TV3 can only really survive with a significant stake being held by a major foreign media interest with significant clout in international programming sales, or otherwise with access to substantial programme material as with ITV plc.

A small company like Setanta (and what a ridiculous wrap-the-flag-around-me name it is too) simply cannot have the resources nor the contacts to run a television station. A 45% stake perhaps, but not an entire station.

And being overly sport-oriented will only make TV3 worse in many people's eyes.

flogen

Telef&#237 wrote: »

Where the heck are Setanta going to get €250 million from?!!!
And secondly, how would they operate the station with absolutely no international links?! TV3 can only really survive with a significant stake being held by a major foreign media interest with significant clout in international programming sales, or otherwise with access to substantial programme material as with ITV plc.

A small company like Setanta (and what a ridiculous wrap-the-flag-around-me name it is too) simply cannot have the resources nor the contacts to run a television station. A 45% stake perhaps, but not an entire station.

And being overly sport-oriented will only make TV3 worse in many people's eyes.

Setanta is raking it in in America, I'd say it could pull €250 million, or a large amount of that from somewhere, they could get backing from a bank or investment company etc.
As for content, one thing is certain, tv3 sports would get a huge boost (for example, tv3 would negotiate with setanta for 100% rights to FTA rugby matches etc.). They might even look into simulcasting the bigger soccer matches they have, and perhaps make an attempt on some GAA rights
I'd say they wouldn't turn it into a sport company, and would only invest in order to expand their operations; perhaps they could continue a deal with ITV when they buy their shares, and then US imports are a dime a dozen.
In other words, it all ends up the same, but at least with Setanta there's a chance of more Irish content.

BuffyBot

No more simulcasts of Corrie and Emerdale?

Why not? Nothing to stop the new owner continuing with the agreements made to show ITV produced shows.

Elmo

and what a ridiculous wrap-the-flag-around-me name it is too

We give out when the aren't Irish enough and when the OTT Irish.

Setanta was orginally set up to provide Satellite coverage to Irish Ex-Pats in the US and the UK to GAA matchs.

Setanta comes from the Irish Myth about how he got the name CulCullaine(sp?). I personnelly think that it is a good name for a TV channel set up to provide Gaelic Games to Irish Ex-Pats. http://www.setanta.com/content/setanta/website.nsf/page/53332156666e432a80256e6700662ce5_?open&parentpageid=1644742650b0aca780256e670064bb9d&

They also own NASN cheak out www.setanta.com for more details about the company.

TV3 don't show that much sport only Soccer. They have yet to really provide any real coverage to any Irish Sporting Events.

Unfortunately Soap and Sport are needed on most channels to survive what sport has TV3 got for the coming years? Highlights of F1 and Sports Tonight.

Setanta is a very international and Irish service and why not?

Current rights deal with ITV last for another 2 years if ITV does not buy the 45% share.

flogen

BuffyBot wrote:

Why not? Nothing to stop the new owner continuing with the agreements made to show ITV produced shows.

Yes, something I mentioned in the post just above yours (setanta could do a deal etc.)

The more I look at it the more setanta seems to be a possible suitor. It has the finance, the backing, and it's dipped its toes in non-sports ventures before (Newstalk 106, for example).
If it happened it could show the Ireland rugby, and so not lose a big part of it's RWC deal to another company. It could bid for GAA, FAI league soccer and also show the Setanta Cup on both channels.
Aside from sport I'm sure it has the international links to get some good shows, perhaps better than what we have (from the US) currently.
It would also mean that, with an Irish company behind it, there might be some actual Irish content; documentaries, game shows, chat shows, anything.
ITV/Canwest proved their lack of knowledge in the Irish market when they put Dunphy up against the Late Late. That would still be going if they'd been clever enough to give it a different slot.

BuffyBot

ITV/Canwest proved their lack of knowledge in the Irish market when they put Dunphy up against the Late Late.

They knew exactly what they were doing. It misfired badly, but they didn't put them head to head by accident.

flogen

BuffyBot wrote:

They knew exactly what they were doing. It misfired badly, but they didn't put them head to head by accident.

No, of course they knew what they were doing by challenging the late late, my point was that they didn't really know what they were challenging; in other words the huge viewer figures for the late late are from an elderly audience and are viewers that are entrenched (they watch the late late because it's the late late, not because of it's guests).
It misfired because they didn't know what the Irish viewers wanted.

Telefís

That's a little unfair to the Late Late - it has been spectacularly successful in recent times, something that has gone completely unnoted in the media, suffice to say because it does not suit the print media to in any way acknowledge, let alone praise any acheivement in RTÉ.
CanWest's Dunphy Show concept was a joke up against the Late Late, and did nothing to serve Irish viewers. Hopefully whover comes on broad this time will have the decency to put it on again - on another night.

I remain to be convinced about Setanta getting the backing or having the ability to sustain the station, but sure we'll see...

flogen

I think it's fair enough. I mean, I'm not saying the Late Late is crap and is lucky to have people too lazy to switch over, but the fact is that it has a loyal fanbase, and even in it's tougher times (which have been coming thick and fast with Kenny), it still remained a successful and viable platform

BrianD

Canwest are only a shareholder (a majority one), they don't manage the station on a day to day basis!

In regard to Dunphy v The Late Late Show. TV3 get a lot of flack on these boards for allegedly being uncompetitive (ITV court case etc). However, you have got to hand it to them for taking on the national institution that is The Late Late show who's supremacy has been unchallenged for years. Is this not what not competeition is all about? However, I think Tv3 night have blinked too early in the game. They could have put the show on Saturday night and it would probably still be around.

Dunphy was clearly shaping up to be a better show. Pat Kenny is dreadful presenter and the Late Late is tacky at the best of times. Gay Byrne may have had a flaws but a great presenter and really broke new ground. Who remembers those mock court cases he used to have. Perhaps, it was the times we lived in.

Anyway, I doubt Setanta will buy. There expertese is not in general entertainment. I'm sure it will help Canwest get a good price out of ITv or UTV!! Interesting times for UTV if ITV get the shareholding.

flogen

Yeah, I agree about Dunphy and Saturdays. I never got to watch much of the show (guess why? My mam was watching The Late Late!), but it seemed good enough.
I'd say they would have been better to start on a Saturday, spend a series or two there to get a good fanbase, then maybe move onto the Late Late territory. Sure competition is good, but it's pointless to go on suicide missions like that. Hey, even if they'd stuck at Saturdays at least we wouldn't have the horror that is Tubrity Tonight... shudder.

Elmo

I remain to be convinced about Setanta getting the backing or having the ability to sustain the station, but sure we'll see...

Setanta was one of the main players that wanted to gain control of NTL.

Setanta have the money and the backing if they want it.

As do Dennis O'Brien, UTV and ITV.

Logically Setanta and Dennis O'Brien could buy the channel between them.

As for Dunphy and the Late Late blaaa blaa blaa.

Saturday's had gone untouched by an Irish Chat show for nearly 5years when Dunphy went up againist Kenny.

It was a stupid idea to allow to similar shows go out at the same time, one was bound to lose and it was going to be the new guy.

TV3 did not make thinks better by not backing the shows return after Christmas. The show had done quite well for TV3 as well as is to be expected with an average of 200,000 viewers which outside of the Soaps and Reality TV is very good for TV3.

Canwest are only a shareholder (a majority one), they don't manage the station on a day to day basis!

You will of course note that the CEO of TV3 is Rick Heathrington a canwest man. Most of the board are from the ITV or CanWest.

http://www.tv3.ie/corporate.php?id=8 (TV3's Management)
http://www.tv3.ie/corporate.php?id=5 (I understand that the board of directors do not run TV3 but you will note that only 3 are non-ITV and non-Canwest since they are the 3 main Irish Investors).

Elmo

FROM REUTERS

Bid deadline nears for Ireland's TV3 - source
Wed Feb 15, 2006 1:01 PM ET

By Adam Pasick and Mathieu Robbins

LONDON, Feb 15 (Reuters) - Canadian media company CanWest <CGSnv.TO> has set a bid deadline near the end of the month for its 45 percent stake in Irish commercial broadcaster TV3, according to sources familiar with the situation.

"The information memorandum is being sent out and it will now move into a standard process timetable. So bids are due in towards the end of February," one source said on Wednesday.

The other major stakeholder in Ireland's sole commercial terrestrial channel is Britain's ITV <ITV.L>, which also has a 45 percent stake.

ITV has the right of first refusal but will probably be forced to sell its own stake if it does not bid under terms of the partnership deal, a separate source said.

TV3 already carries a large amount of programming from ITV, which declined to comment.

The remaining 10 percent, non-voting stake in TV3 is held by a trio of investors -- Chairman James Morris, U2 manager Paul McGuinness and Ossie Kilkenny, the band's accountant.

Aside from ITV, potential bidders for ITV include Ulster Television <UTV.L>, which holds the Northern Ireland ITV franchise and already broadcasts through much of the Republic of Ireland. Combined, UTV and TV3 would have a share of viewership approaching that of public broadcaster RTE.

CanWest is selling the stake in order to concentrate its resources in other areas.

"Up until a couple of years ago we had a stake in UTV, and originally CanWest had hoped to spin its investments in UTV and TV3 into a broader Irish strategy," a CanWest spokesman told Reuters. "But that didn't work out to be feasible, so TV3, while it's been a very good asset from its start-up, simply doesn't fit with where the company's heading."

Analysts estimate CanWest's stake is worth about 100 million euros ($119.1 million). The sale comes as Ireland's booming economy is expected to result in a 10 percent increase in TV advertising spending this year.

bk

So what would be the better outcome, UTV buying TV3 or ITV, in terms of sorting out the disgreements between TV3 and ITV and getting the ITV channels carried on the Sky EPG and NTL.

watty

Both if fully owning TV3, would have a vested interest in keeping ITV off the EPG, unless TV3 was run as ITV Ireland.

Telefís

On a TV3-related issue - from the Irish Times last Friday:


TV3 says it might pull out of licence fee scheme
By Emmet Oliver

24/2/2006


TV3 last night threatened to pull out of a controversial scheme which allocates licence fee revenue to the broadcasting industry after TG4 and RTÉ won the lion's share of the funding on offer.
The sound and vision scheme was created by the Government in 2002 following a review of the TV licence fee regime. The Government decided at that point to divert 5 per cent of the licence fee each year into a fund to support new programming by private and public sector broadcasters.


As part of this, some €10.5 million has been allocated to 37 TV projects. Eight RTÉ projects are to be funded, and 27 projects from TG4 will be funded, while privately-owned Setanta will have two projects funded. TV3, which submitted several proposals, will not receive any funding.

The allocation of the monies was undertaken by the Broadcasting Commission of Ireland (BCI). Yesterday it declined to comment on individual applications, but a statement said projects which failed to secure funding were refused for a variety of reasons. This included "lack of relevance to the programme themes, insufficient development and issues of quality".

According to documents released under the Freedom of Information Act, the decision to set up such a fund prompted concerns from the head of broadcasting policy in the Department of Communications.

The documents quoted the senior official warning Ministers that creating such a fund would fundamentally alter the broadcasting landscape in the Republic. RTÉ's then director-general, Bob Collins, was quoted as being alarmed and apprehensive about the idea.

Last night TV3 said: "The station had serious reservations about entering the scheme - its continuing involvement in light of this development is debatable." The station said it was surprised and concerned about the decision by the BCI.

"Of the €10.5 million of funds allocated to TV approximately 95 per cent was given to the State sector with the rest going to a small pay cable organisation received by less than 50 per cent of the population."



© The Irish Times



So was TV3 attepting to make Celebrity Love Rathlin Island with the funds?! They must have been some rubbish for all their submissions to be refused to that extent, while TG4 managed to get a whopping 27 through the scheme! Unless they were 'testing the waters' as it were and pushing their luck with commercially-oriented material...

All in all it seems like a typical TV3 ploy - submit complete inappropriate material, get nothing from the scheme as a consequence, and then sensationally whinge to the media about how pointless the scheme is, and how PSB in Ireland is being fattened up to an anti-competitive degree, and how the whole world is against it, and how the potholes in the car park are caused by RTÉ, and and and...

The idea that the second-largest television broadcaster in Ireland got not a single production funded, whilst one of the smallest got 27 needs little explaining.