BeIN Media Group, which is operated by Qatari pay-television broadcaster Al Jazeera, has reached a deal to acquire the Setanta Sports Australia pay-television operation.
According to the Irish Times newspaper, the Australian division is being sold by Ireland-based Danu Investment Partners, which is backed by Setanta co-founders Michael O’Rourke and Leonard Ryan, as well as business partner Mark O’Meara.
Financial details of the deal have not been disclosed, but the agreement is expected to be approved by Australia’s Foreign Investment Review Board in mid to late September.
The channel will be rebranded as a beIN Sports channel following approval.
The report said that beIN Media Group approached Danu last year to start initial discussions about the possibility of acquiring the Australian channel. Danu was established in 2009 to implement a rescue deal for Setanta Sports Ireland after the pay-television broadcaster’s business collapsed in the UK.
“We believe this is a win for our loyal customers in Australia, who will share in beIN Sports commitment to producing sports coverage of the highest quality,” Ryan said.
Yousef Al-Obaidly, beIN’s Media Group’s deputy chief executive, added: “We are very happy to take our beIN Sports brand to yet another admirable market. Australians are very passionate about sports and we are proud to fulfil this passion and provide them with a unique experience.”