Setanta considers wholesale switch
June 3, 2009
Pay TV broadcaster Setanta, currently losing an estimated £100 million (E115m) a year, is considering a radical switch of its business model that would mean ditching its subscribers in order to become a wholesale supplier of programmes, including Premier League football, to broadcasters such as British Sky Broadcasting and BT Vision.
Setanta, with 1.2 million subscribers, is still far from reaching a break-even point that at around 1.9 million.
Meanwhile fears Setanta won't make it intensified when it emerged it has defaulted on a payment to the Scottish Premier League. Reports said a routine payment to SPL clubs, thought to total about £3m, did not arrive as scheduled.