Founders expected to take over Setanta Irish business

The founders of recently bankrupted sports broadcaster Setanta are expected to take control of the company’s Irish business after Irish concert promoter and Setanta shareholder Denis Desmond agreed a buyout with original investors.

Desmond, along with founders Leonard Ryan and Michael O’Rourke, are set to acquire the company’s Irish assets from private equity firms Doughty Hanson and Goldman Sachs. 
Following this, the three are expected to begin negotiations with Irish pay-TV platform Sky Ireland to renew its carriage deal for Setanta Sports Channel Ireland and will also look for fresh investment from companies including cabler Liberty Global and Irish venture capitalists.