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Guest Message by DevFuse

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Setanta Going Bust


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17 replies to this topic

#1 OFFLINE   liverpool

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Posted 07 June 2009 - 11:53 AM

Sports broadcaster Setanta is on the brink of collapse this weekend as it struggles to agree a rescue plan with rights holders and investors.

Deloitte, the accountancy firm, is on stand-by to put the company into administration. This would mean Setanta could disappear from the airwaves immediately.

For the past six months Setanta — which has 1.2m customers, considerably short of the 1.9m needed to break even — has been desperately trying to raise new capital to meet rights’ payments. The broadcaster has until tomorrow to pay the Scottish Premier League (SPL) £3m as part of its £31m a year deal.

The SPL held an emergency meeting last Wednesday to discuss the situation and has already decided to dip into its own emergency funds to distribute the payments to member clubs.

There are also huge repercussions for the Barclays Premier League, which is awaiting a £35m payment from Setanta due on June 15.

The company’s collapse could result in a fire sale of rights, including the £425m four-year deal for England and FA Cup matches it shares with ITV. Analysts say no-one will pay anywhere near Setanta’s rates to pick up the contract.

Most excellent if Fox soccer channel pick up all the games then I will subscribe in a new york minute. :)

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#2 OFFLINE   bgilga

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Posted 07 June 2009 - 07:23 PM

I bscribed to Setanta for a while. No HD was a big dissappointment as was $15 a month.

#3 OFFLINE   ramcm7

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Posted 08 June 2009 - 08:49 AM

Most excellent if Fox soccer channel pick up all the games then I will subscribe in a new york minute. :)


When they went from Fox Sports World to Fox Soccer Channel and dropped Rugby and Aussie rules, I dropped the Sports package and FSC and added Setanta when they added a good selection of those sports.

I agree with bgilga in that no HD has been a bummer.

#4 OFFLINE   vansmack

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Posted 08 June 2009 - 10:21 AM

Most excellent if Fox soccer channel pick up all the games then I will subscribe in a new york minute. :)


FSC doesn't have the freespace to broadcast enough of the games in a timely fashion. I really hope another US carrier (hello, ESPN3) picks up the fire sale parts.

#5 OFFLINE   crabtrp

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Posted 08 June 2009 - 10:31 AM

I subscribe and I have enjoyed having the two channels plus FSC showing live EPL games over the weekend. The lack of HD constantly annoys me. Hopefully whomever picks up the rights (should it go out of business) is able to show the same dedication to live games. But even cricket is in HD now, I am enjoying the T20 World Cup and was amazed to get it in HD.

#6 OFFLINE   mshaw2715

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Posted 08 June 2009 - 02:35 PM

If espn gets it, I would supsect much of it would go to espn360 and possibly some to espn classic.

#7 OFFLINE   mhking

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Posted 08 June 2009 - 09:35 PM

I bscribed to Setanta for a while. No HD was a big dissappointment as was $15 a month.


That was my problem. I enjoyed the rugby, and am a fan of the AFL, but something had to give in my bill.... Would be nice if FSC/Gol would pick up the rugby, but I'm not holding my breath...
Wish list of channels for D*: C-Span 3; BBC World News; Sky News International; CBC Newsworld; France24; EuroNews; Eurosportnews; Setanta Sports News; ABC News 24 (Australia); Australia Network (soon to be ABC Asia Pacific); Al Jazeera English; Russia Today; NHK World; DW-TV -- Heck, how about an entire English-language international tier so I don't have to keep switching to my Roku?

#8 OFFLINE   Ferrino

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Posted 09 June 2009 - 08:47 AM

Fingers crossed ESPN pick up the Setanta EPL games! Setanta really is a terrible quality channel and not worth $15/month in SD. ESPN is available to way more people and doesn't require an additional fee. Plus they are more HD-ready than Setanta (who still transmit using a piece of transatlantic string it seems).

#9 OFFLINE   DawgLink

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Posted 09 June 2009 - 09:02 AM

I am not so sure I want ESPN picking it up unless they will show a good amount of the actual games.

I just worry they buy out the games yet only allow US people to see half of those

#10 OFFLINE   Araxen

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Posted 09 June 2009 - 12:43 PM

I have no problems paying $15 a month if the channel is HD and I hope ESPN picks it up makes it a pay channel like before and changes it to a HD channel. Heck, I'd consider paying up to $20 a month if it'll get me Rugby and AFL games in HD.

There is money to be made from the world sports via a monthly pay channel and all they need to do is give us the video quality we want.
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#11 OFFLINE   bgilga

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Posted 09 June 2009 - 03:59 PM

I agree Araxen. $20 for an international sports channel would be fine if it is in HD. Europen soccer, Aussie Football, and maybe Japaneese basebal or anything like that. I think it would be a great channel. I don't think it would have 10 million subs, but their are enough people out there interested in international sports.

#12 OFFLINE   dhines

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Posted 09 June 2009 - 05:35 PM

so did setanta successfully make their payment to the SPL?

edit:

looks like the answer is no. based on the below read, looks like monday we may have an answer to question: is ESPN going to buy setanta?

http://www.dailyreco...86908-21418921/

Edited by dhines, 09 June 2009 - 05:45 PM.

nothing like having way too much sports programming . . .

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#13 OFFLINE   DCSholtis

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Posted 09 June 2009 - 06:11 PM

http://www.timesonli...icle6466375.ece

The Irish broadcaster is expected to go off air at any moment and will probably announce today that it has ceased trading. That would leave in its wake a range of television sports contracts — involving football, golf, rugby, boxing and baseball — hanging in the balance.


And thats it folks....Setanta are not accepting new subs in the UK as of today. What that means for Setanta USA take your best guesses.

http://www.telegraph...-withdrawn.html

Attempts to subscribe online are met with an error message “Oops! Something has gone wrong…”. Calls to the Setanta subscription telephone line were also met with a message saying that the service is unavailable.

A spokesman for the company refused to comment on the development, but it is understood that the withdrawal of subscription services is not coincidental and could be a sign that administration is imminent.

Among the first moves an administrator would make is to effectively “close the shop”, preventing customers from paying for services they are unlikely to receive. The withdrawal of the subscription service is consistent with that approach.


Edited by DCSholtis, 09 June 2009 - 06:32 PM.

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#14 OFFLINE   Araxen

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Posted 09 June 2009 - 08:40 PM

There was a post over on Satellite Guys that employee's in Europe were told to pack up their offices. It's pretty much over and now it's in the let's see who buys up the parts now phase.

Here it is: http://www.satellite...tml#post1851979

Just an update... Couple of lads who work for Setanta in Dublin and London said the office is starting to pack up their belongings.

I guess the announcement is expected tomorrow am


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#15 OFFLINE   dhines

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Posted 10 June 2009 - 11:22 AM

woo-hoo :D

now lest hope that ESPN buys these contracts and finds a way to rebrand ESPN Classic
nothing like having way too much sports programming . . .

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#16 OFFLINE   DCSholtis

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Posted 10 June 2009 - 12:33 PM

http://www.guardian....nta-rescue-plan

The plan is thought to involve selling all or part of Setanta's US and Irish businesses, both of which are profitable.

Setanta founders Michael O'Rourke and Leonard Ryan are believed to be seeking buyers for the US and Irish operations and are hopeful that some of their wealthy business associates will agree to acquire them. Setanta Ireland is already 20% owned by Denis Desmond, the Irish music promoter.


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"The Raiders will be back. I have unshakable confidence, the will to win, and I just know that the fire that burns brightest in this building is the will to win. And we will win. We will win."---Al Davis. Rest In Peace, Al

#17 OFFLINE   dhines

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Posted 10 June 2009 - 01:30 PM

http://www.guardian....nta-rescue-plan


good deal . . . :)

i have no issues with setanta pulling out of this, as i am sure any new investors would insist that they have the ability to transition to HD. i honestly believe their lack of HD is what killed them.

selling a niche product is usually geared towards people that are willing to pay a premium. it is silly to sill a product that aimed at a niche group, then not offer the premium of HD programming.

kind of like shooting yourself in the foot.
nothing like having way too much sports programming . . .

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#18 OFFLINE   Stuart Sweet

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Posted 10 June 2009 - 02:18 PM

Let's move all the discussion about Setanta here:

http://www.dbstalk.c...ewpost&t=159593
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