IN A statement released on their website, Setanta stated that all its channels are still broadcasting across all platforms. Reports across the media speculated that staff would be called in to be told the news that the company had called in the administrators; however, Setanta’s statement suggests that a deal of sorts has been reached, writes James Bourne.
It states: “The company has not gone into administration. However, in the current circumstances, we have decided to suspend temporarily the acceptance of new subscriptions.”
It has been reported that the Irish-based broadcaster is running at a loss of £10m per year, despite 1.2m subscribers. Fears had heightened with the news that the company were unable to pay the Scottish Premier League £3m in the terms of their contract, and the English Premier League £30m.
In addition, BT Vision has announced that they will no longer be offering Setanta Sports to its customers “as a precaution”, despite the fact Setanta is still broadcasting.
Should Setanta go into administration as many commentators are predicting, American cable broadcaster, ESPN will emerge as the favourites to acquire the two packages – consisting of 46 live matches – of English Premier League football for the 2009/2010 season.