TV3 owner injected ‘€10m to €15m’ to drive turnaround in station

TV3 owner Liberty Global injected “€10m to €15m” into the Irish broadcaster to drive a turnaround, according to the CEO of the global cable giant.

Liberty Global CEO Mike Fries said the investment in the Irish broadcaster had “really moved the needle”.

The soon to be renamed Virgin Media channels are making money in their own right. The launch of a dedicated sports channel next month will be the rebranded Virgin Media’s fourth chanel in the Irish market.

The CEO of Virgin Ireland, Tony Hanway, said TV3 is competing successfully with RTE, in particular in the 15 to 44 year olds cohort.

Liberty Global was the long time owner of cable operator UPC, still its main business here. It bought TV3 in 2015 for €87m.

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