LONDON (Reuters) – Two investors in Setanta have written off the value of their investments in the Irish pay television broadcaster after it lost one of its deals to show live Premiership soccer, according to a report on Sunday.
Doughty Hanson, which owns about a fifth of Setanta, and Goldman Sachs (GS.N), which directly owns about 5 percent, are understood to have written down the value of their stakes to zero over concerns about its business model, the Sunday Telegraph reported.
Setanta is reviewing its business after rival BSkyB (BSY.L) snapped up five of the six Premier League packages available from 2010, leaving Setanta with just one.
The review could result in the group, which launched in 1992 and later broke Sky’s grip on live Premiership soccer, relinquishing its rights to show live boxing and rugby, the newspaper said.
No-one from Setanta was available to comment on Sunday. The Sunday Telegraph said the broadcaster, Doughty Hanson and Goldman Sachs had declined comment. (Reporting by Philip Waller; Editing by David Holmes)