Setanta talking about reductions

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Ireland-based pay-TV sports operator Setanta is reportedly in detailed renegotiation talks with a number of TV rights-holders about the broadcaster’s obligations. More than one publication has referred to the talks as at “crisis” levels. A new chairman was appointed at the weekend, with a brief to immediately secure fresh cash, or reductions in obligations, to enable the business to move forward.

Reports say Setanta is now in talks with all the sporting bodies it has rights deals with, and is discussing potential renegotiation of the terms of its assorted contracts. Additionally it was said to be talking to its private financial backers about possible refinancing. A stage payment of £60m is due to the Premier League next week.

Setanta's director of sport Trevor East is quoted by the London ‘Independent’ newspaper as saying there was "no question of us defaulting on any payments”.


Source:RapidTVNews