Ireland’s TV3 to debut soon

First Irish national private b'caster to launch Sept. 20

WINNIPEG (Dow Jones) — CanWest Global Communications (CWG) said TV3 Television Network will launch across Ireland Sept. 20.

In a news release, CanWest said the launch date for Ireland’s first national private broadcaster was set following an agreement reached between TV3 and ACT Venture Capital, a private equity investment company, for the placement of 35% of the equity in TV3.

CanWest said the private placement satisfied the remaining regulatory condition set on TV3 Ireland.

CanWest is TV3’s largest shareholder, with a 45% stake. It has the right to appoint a majority of TV3’s directors. It said TV3’s founding shareholders, a consortium comprised of Ossie Kilkenny, Paul McGuinness and James Morris, collectively hold 20% of TV3.

CanWest Global is a Canadian broadcasting company.

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