Setanta is facing administration amid claims that the Irish broadcaster is losing up to £100 million a year, and is struggling to pay £30 million owed to the English Premier League.
Despite having played down reports suggesting that administration is imminent, Setanta appears to be no longer accepting new customers via its website and executives met last night to discuss the future of the operation - and potential bailouts. Details emerging today suggest that Setanta attempted to sell broadcasting rights of its 46 Premier League matches to rival Sky Sports, for a fee of £50 million.
BSkyB has rejected the deal, with chief executive Jeremy Darroch stating that "our job is not to fund other companies".
Although details on Setanta's future remain cloudy, reports suggest that the broadcaster is actively seeking a takeover bid. US broadcaster ESPN is believed to be showing interest, and Setanta's rights to 46 live Premier League games are expected to be hotly contested.
Should a takeover deal fail, Setanta may also have the option of generating revenue by wholesaling its exclusive coverage to rival services.
In related news, Dan Marks has quit as head of pay-TV service BT Vision. Despite stating that he's leaving to pursue his own interests, Marks has turned the spotlight to Ofcom's Sky consultation by claiming that "what is happening to Setanta is a pretty good example of the challenges that are faced by everybody in this marketplace which is so profoundly dominated by Sky".
