Setanta "On Brink Of Collapse" - 9th Jun 2009 8:00am
Originally Posted by BBC News
Setanta faces administration "within days" unless backers provide more funds to pay £30m it owes to the English Premier League, reports suggest.
The broadcaster has already failed to pay the Scottish Premier League £3m it owes in television rights money.
Setanta, which also shows cricket, golf and rugby union, has about 1.2 million subscribers, but is losing up to £100m a year, analysts say.
Deloitte is set to step in to run the firm if it goes into administration.
The broadcaster has already failed to pay the Scottish Premier League £3m it owes in television rights money.
Setanta, which also shows cricket, golf and rugby union, has about 1.2 million subscribers, but is losing up to £100m a year, analysts say.
Deloitte is set to step in to run the firm if it goes into administration.
Ive been touting this on these forums for a few years now, it was pretty obvious imho, they bought up some weak sports rights, and tried flogging them in the same vein as Sky Sports. They had neither the experience or the sports to justify the rediculous price tag.
Throwing it into the Virgin Media packs for free, and then taxxing everyone else dearly, was never going to work in the long-term and never made financial sense. It also stinks of anti-competitiveness, if it were Sky, you could bet ya life that they would have been screwed over by the competition commission and/or Ofcom....
And this is despite the fact they have a massively higher reach than Sky Sports has ever had.
Now get the darn message and FOOK OFF SETANTA!! Absolute ... of the earth, anyone who has ever subscribed (not me fortunately), good luck actually cancelling... phone a premium rate number and get put on hold for 30 minutes, and then half the time they still dont cancel it for you, and on the odd occasion they do, they hold you into the contract for a further 60 days from the day you wish to cancel... cancel the direct debit and they send in the debt collectors within days!!
BBC News Report