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February 9, 2009

Russian buys stake in Setanta


by David Allen

The Russian born businessman, Len Blavatnik, is believed to have bought a small stake in the satellite sports broadcaster, Setanta Sports, to add to his significant holding in the premium Freeview service Top Up TV.

This comes just after the broadcaster has once again been beaten into second place by BSkyB for the main rights to the live matches from the Premier League, although they may still have some stiff competition from the American sports broadcaster ESPN, which has showed an interest in the Premier League games.

It is believed that Setanta will have to find additional finance to fund the televised football matches, a figure rumoured to be around the £159 million mark, hence the investment opportunities for rich Russians and other wealthy businessman to gain a stake in satellite broadcasters, like Setanta.

Story link: Russian buys stake in Setanta


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