Virgin Media has bought UTV Ireland from ITV for €10 million.
The deal was first revealed by the Sunday Business Post this weekend, with confirmation from the media giant today.
The deal unites UTV Ireland and TV3 under the same group. Virgin Media will now own both ITV and UTV Ireland, and has a 10-year deal for top ITV soaps Emmerdale and Coronation Street.
Virgin Media already bought the TV3 Group for €80 million last summer.
“This is a very positive development for Irish broadcasting and ensures Virgin Media’s continued investment in top quality programming and local production,” Virgin Media chief executive Tony Hanway said.
TV3 managing director Pat Kiely added that it was “an exciting new chapter” for the Irish television industry.
“Virgin Media’s investment in TV3 has already supported the expansion of our studio facilities and increased production,” he said.
“The proposed acquisition of UTV Ireland will ensure further investment in the independent Irish television sector as we continue to compete head on against significant local and international competition.”
