According to UK press reports, investment bankers said that Goldman Sachs had produced some basic documentation, but that it proved impossible to get an auction moving because the price was too high. Potential bidders were thought to include BT, Virgin Media, ITV and Walt Disney.
Setanta, which transmits English and Scottish Premier League matches, said it had “decided not to engage further” with a sales process. It is understood that the broadcaster will ask existing shareholders, which include Balderton Capital, Doughty Hanson and Goldman Sachs, for more funds if it needs money to secure additional sports rights.
Setanta was founded in 1990 by Michael O’Rourke and Leonard Ryan. It currently has around 1.2 million subscribers.
