UPC Ireland have bought TV3 for €80m.
The deal was struck with equity fund Doughty Hanson, who had bought TV3 for €265m back in 2006. The No. 2 channel in the country behind RTÉ1, with a 12% market share, last year saw TV3 return its best results in six years.
UPC Ireland had become part of Liberty Global's Virgin Media family last December; Magnus Ternsjö, 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.”