The deal was made between Liberty Global’s UPC Ireland and U.K. private equity group Doughty Hanson, which bought TV3 in 2006 for €265 million ($292 million).
“We’re pleased to welcome TV3 to the Liberty Global family,” said UPC Ireland CEO Magnus Ternsjo. “The investment we are making today secures the long-term future of TV3. With its wide range of home-grown programming, TV3 holds a unique place in the hearts of Irish viewers.”
TV3 CEO David McRedmond added: “TV3 has secured an excellent long-term owner, which will help us to take advantage of the opportunities we see in Ireland and internationally.
“TV3’s employees have transformed the company from an old-model channel reliant on foreign programming into a contemporary media company originating its own content distributed across multiple platforms.
“This deal is a great endorsement of TV3’s strategy and team by a leading global company, and is also an expression of confidence in the continuing turnaround in the Irish economy.”