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Liberty Global-owned cableco pays 10 million for another free-to-air broadcaster.
Virgin Media Ireland late on Monday agreed a €10 million acquisition of TV channel UTV Ireland from U.K.-based broadcaster ITV.
UTV Ireland launched in January 2015 as the sister channel of UTV, a longstanding broadcaster in Northern Ireland. ITV completed the acquisition of both channels in February this year in a deal worth £100 million (€118 million).
Monday’s deal with Virgin Media Ireland includes not just the TV channel but also its catch-up app and a 10-year agreement to carry content produced by ITV, which includes popular soaps Coronation Street and Emmerdale.
"The acquisition of UTV Ireland gives us leadership in commercial broadcasting in Ireland and extends our platform to showcase the best Irish, U.K. and international programming. It also gives us exciting opportunities to buy and make exclusive programmes for our Virgin Media customers in both the Republic of Ireland and the U.K.," said David Bouchier, chief digital entertainment officer at Virgin Media, in a statement.
UTV Ireland is the second free-to-air channel the Liberty Global-owned cableco has purchased in just over a year.
In July 2015, Virgin Media Ireland, which at that time operated under the UPC brand, agreed to acquire the country’s second most popular channel TV3, plus its youth-focused channel 3e, for €80 million.
"We are delighted to welcome UTV Ireland to the Virgin Media family. This investment demonstrates our commitment to provide great entertainment for Irish viewers and adds Ireland’s newest TV channel to our existing portfolio which includes TV3 and 3e," said Virgin Media Ireland CEO Tony Hanway. "This is a very positive development for Irish broadcasting and ensures Virgin Media’s continued investment in top quality programming and local production."
The deal is subject to approval by local regulators, the Competition and Consumer Protection Commission, and the Broadcasting Authority of Ireland. Virgin Media said the transaction is expected to be cleared "in the coming months."
