Setanta reported to be in talks with new investor
As it looks raise £50million of funding in order to avoid entering administration, reports say that sports subscription channel Setanta has entered into talks with a new investor.
The BBC has reported that the board of the Irish TV channel will meet today in the hope that a deal can be finalised over the weekend.
The company has confirmed that it is no longer taking subscriptions from new customers while previous talks with competitor BSkyB have failed.
The company has already failed to pay £3million to the Scottish Premier League and is now due to pay £30million to the English Premier League for television rights.
As it seeks new investment, the company is also understood to have suspended its advertising services pitch.