The UK operations of broadcaster Setanta Sports have been placed into administration. Financial firm Deloitte Touche Tohmatsu confirmed the division would be liquidated. The company entered administration after plans to raise fresh capital for the company, which had been making a loss, through Leonard Blavatnik failed. With effect from today, the company is to cease accepting payments from television customers who had subscribed to its broadcasting services, and 200 employees of the company in the United Kingdom , which employs 420 people in Ireland and the U.K., are to be made redundant. Administrators will attempt to find a buyer for the Irish and international arms of the company. Setanta's U.K. sports channels, Setanta Sports 1 & 2, have ceased transmission in the U.K. , but are continuing transmission in Ireland. Other U.K. channels that have ceased transmission include Setanta Golf and Setanta Sports News. Because of U.K. and E.U. monopoly and competition laws, broadcaster British Sky Broadcasting is unable to bid for the broadcasting rights that Setanta had.
The UK operations of Setanta Sports have been placed into administration. Financial firm Deloitte Touche Tohmatsu confirmed the division would be liquidated. The sports broadcaster, which employs 420 people in Ireland and the UK, entered administration after plans to raise fresh capital through the Russian-American businessman Leonard Blavatnik failed. With effect from today, the company is to cease accepting payments from television customers who had subscribed to its broadcasting services, and 200 employees in the United Kingdom are to be made redundant. Administrators will attempt to find a buyer for the Irish and international arms of the company. Setanta's UK sports channels, Setanta Sports 1 & 2, have ceased transmission in the UK , but are continuing transmission in Ireland. Other UK channels that have gone off-air include Setanta Golf and Setanta Sports News. Because of UK and European Union monopoly and competition laws, broadcaster British Sky Broadcasting is not permitted to bid for the broadcasting rights that Setanta had.
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broadcaster
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company
sports broadcaster, which employs 420 people in Ireland and the UK,
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for the company, which had been making a loss, through
through the Russian-American businessman
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of the company
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, which employs 420 people in Ireland and the U.K.,
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U.K.
UK
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U.K.
UK
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U.K.
UK
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ceased transmission
gone off-air
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U.K. and E.U.
UK and European Union
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unable
not permitted