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May 28, 2006
VC-backed Setanta To Raise More Cash
Publicly mulling plans to offer major sports content over free satellite channels and broadband to reach the magic audience numbers it requires to break-even, Setanta is putting the word out that it will need to raise more capital.
The pay TV group that recently ended BSkyB's dominance of live Premier League coverage confirmed yesterday it would screen matches on Freeview and broadband internet services as well as on cable and satellite.Michael O'Rourke and Leonard Ryan, founders and joint chief executives of Setanta, dismissed suggestions from analysts that the company had overpaid for the rights and announced plans to launch a fresh round of fundraising for the company, which is 40% owned by venture capital firm Benchmark.
Setanta starts fund raising and seeks new investor (The Guardian)
Posted on May 28, 2006 11:32 PM | Posted to Media | Venture Capital | Permalink
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