Doughty-backed Setanta enters administration

London-based sports broadcaster Setanta, backed by a syndicate comprising Doughty Hanson, Balderton Capital and Goldman Sachs, has reportedly seen its UK business go into administration.

Several rescue options had been considered during week-long survival talks, ending in a decision to separate the company's international operations in the Caribbean, Canada, Africa and the US; leaving the UK business to go under. Trouble emerged when Setanta lost its rights to televise 46 live Premier League football matches per season after failing to meet payments. The broadcaster's annual operating losses are estimated at approximately £100m.

200 people will be made redundant when the broadcaster ceases broadcasting in Britain. Setanta has also suspended the collection of subscriptions from its customers. The company's international and Irish businesses will continue to trade while the company continues discussions with interested parties. Deloitte has been appointed as administrators for the process.

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