Irish telecommunications company Eir has made its first step in owning television content by agreeing a deal to acquire pay-television broadcaster Setanta Sports.
Eir reportedly opened discussions over the potential acquisition last month and the agreement was announced today (Monday). Eir said the deal, the financial terms of which were not disclosed, will enable the company to significantly improve its television offering to customers and enhance its range of products.
Setanta Sports holds a range of exclusive sports content in Ireland including live English Premier League football, every Uefa Champions League game and exclusive Europa League matches, and the FA Cup.
Its portfolio also includes exclusive European Rugby Champions Cup games, all Formula One races, live Allianz League Gaelic Athletic Association games plus English Premiership rugby union, motorcycling series MotoGP, mixed martial arts series the UFC, NBA basketball and NHL ice hockey, as well as golf major The Masters.
The deal comes after Setanta Sports last month extended an exclusive deal to carry pay-television broadcaster BT Sport’s channels in Ireland.
The carriage deal includes the BT Sport 1 HD, BT Sport 2 HD, ESPN on BT Sport HD and the new BT Sport Europe HD channels. Through the deal, coverage of Saturday 5.30pm Premier League matches will be available to Setanta subscribers in the next Premier League cycle, from 2016-17 onward.
“This is an extremely exciting and very important first step for us in television content ownership,” Richard Moat, chief executive of Eir, said. “We will now offer our customers the widest range and highest calibre of sports content in Ireland. Buying Setanta Sports Ireland is a game changer for Eir and is our largest acquisition since we purchased (telco) Meteor in 2005.”
Michael O’Rourke, chief executive of Setanta Sports Ireland, added: “This is really positive news for our customers, our colleagues and our business. Eir’s scale and reach presents us with the opportunity to grow our sports offering in Ireland. Since the launch of our Irish business in 2004 we have worked hard to build a business that ensures Irish sports fans can access the widest possible choice of Irish and international sport. This agreement will ensure growing investment in Irish sport.”
Before being ratified, the deal will need to be approved by the Competition and Consumer Protection Commission, as well as Ireland’s Minister for Communications, Energy and Natural Resources.
The approval process will commence shortly and formal notifications are expected in the coming weeks.