TV

Liberty Global’s UPC Ireland acquires TV3 Group

UPC Ireland, a subsidiary of Liberty Global, has acquired Dublin-based TV3 Group from private equity fund manager Doughty Hanson & Co. (Pictured: TV3 CEO David McRedmond)
July 6, 2015

UPC Ireland, a subsidiary of international cable company Liberty Global, has acquired Dublin-based TV3 Group from UK private equity fund manager Doughty Hanson & Co.

The deal, worth €87 million (US$96 million), will see the Irish broadcaster joining All3Media-owned Liberty Global – one of the largest international cable companies operating in 14 countries with a market cap of more than US$42 billion.

Second only to pubcaster RTÉ1 in Ireland with an audience share of 12%, TV3 currently operates two free-to-air channels including the flagship TV3 and the youth-skewing 3e. As well, the company also transmits TV3+1 across UPC and Sky, and operates the VOD service 3Player.

Doughty Hanson first purchased TV3 Group in 2006 for €265 million ($292 million).

“The investment we are making today secures the long-term future of TV3 Group,” said Magnus Ternsjö, CEO of UPC Ireland, in a statement. “With its wide range of homegrown programming, TV3 holds a unique place in the heart of Irish viewers.”

“TV3′s employees have transformed the company from an old-model channel reliant on foreign programming into a contemporary media company originating its own content distributed across multiple platforms,” added TV3 CEO David McRedmond (pictured). “This deal is a great endorsement of TV3′s strategy and team by a leading global company, and is also an expression of confidence in the continuing turnaround in the Irish economy.”

About The Author
Meagan Kashty is an associate editor of realscreen, an international print and online magazine that covers the non-fiction film and television industries. Meagan is an award-winning business journalist. Prior to joining the realscreen team, Meagan was online editor of Canadian Grocer, named Magazine of the Year at the 2015 Canadian Business Media Awards. She can be reached at mkashty@brunico.com, and you can follow her on Twitter @MegKashty

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