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UPC has agreed to purchase TV3

UPC has agreed to purchase TV3

Reports today indicate that UPC Ireland are to purchase TV3 for €80 million.

It is believed that this price has an addition contingent consideration of up to €7 million payable based on the channel hitting certain targets.

This will mean that TV3 will become part of Liberty Global PLC, solidifying the channel’s long term future.

Magnus Ternsjo, CEO of UPC Ireland said:

“We’re pleased to welcome TV3 to the Liberty Global family. The investment we are making today secures the long-term future of TV3. With its wide range of home-grown programming, TV3 holds a unique place in the heart of Irish viewers. This is a terrific addition to the TV service we offer, which is already the best in Ireland.”

TV3, which operates two free-to-air channels and has an audience share of 12 per cent, making it second in Ireland behind the national broadcaster.