20. Investments in Subsidiaries
Total | |
RTÉ | €’000 |
Balance at 1 January 2020 Additions | 65,827 - |
Balance at 31 December 2020 | 65,827 |
RTÉ had the following subsidiaries at 31 December 2020:
Subsidiary companies | Share capital held | Class of business |
RTÉ Commercial Enterprises DAC | 100% | Publications, various commercial activities & other |
RTÉ Music DAC | 100% | Music publishing |
RTÉ Transmission Network DAC (trading as 2rn) | 100% | Management of transmission network assets |
RTÉ Licence Collections Limited | 100% | Dormant |
DTT Network Company | 100% | Dormant |
Seirbhísí Theilifís na Gaeilge Teoranta | 100% | Dormant |
The Board has reviewed the carrying value of the Group’s investments and is satisfied that there are no impairment indicators and the values are fairly stated. All subsidiaries operate in Ireland and have their registered offices at RTÉ, Donnybrook, Dublin 4. RTÉ Music DAC is a wholly owned subsidiary of RTÉ Commercial Enterprises DAC.
In December 2020, 2rn paid a €7.5 million dividend to RTÉ. This is recognised as income by RTÉ company.
RTÉ had the following joint venture at 31 December 2020:
Joint venture company | Share capital held | Class of business |
Multiplex Broadcasting Services NI Limited | 66.6% | Transmission of free-to-air digital television services in Northern Ireland and related multiplex services |
The registered office of Multiplex Broadcasting Services NI Limited is at Murray House, Murray St, Belfast.
RTÉ Commercial Enterprises DAC had the following joint venture at 31 December 2020:
Joint venture company | Share capital held | Class of business |
GAAGO Media DAC | 50% | IPTV service broadcasting GAA matches internationally |
The registered office of GAAGO Media DAC is at Croke Park Stadium, Jones’ Road, Drumcondra, Dublin 3.
The above joint venture is accounted for using the equity method as set out in the accounting policies. The financial year end date of the joint venture is 31 December 2020. Summarised financial information is set out below.
2020 | 2019 | |
€’000 | €’000 | |
Current assets | 2,450 | 1,187 |
Current liabilities | (1,286) | (573) |
Equity attributable to the owners of the company | 1,164 | 614 |
Non controlling interest | 582 | 307 |
Revenue | 1,997 | 1,916 |
Profit for the year | 550 | 578 |
Carrying amount of the Group’s interest in the joint venture | 582 | 346 |
Classification of RTÉ Group activities by division and by legal entity as at 31 December 2020
RTÉ | RTÉ Commercial Enterprises DAC | RTÉ Music DAC | RTÉ Transmission Network DAC | |
COMMERCIAL DIVISION | ||||
Television advertising and sponsorship sales | • | |||
Radio advertising and sponsorship sales | • | |||
Sale of online banner advertising and sponsorship | • | |||
Sale of Aertel teletext advertising and sponsorship | • | |||
Hire of television production facilities to third parties | • | |||
Commercial telecoms revenue | • | |||
Programme merchandising sales | • | |||
Listing sales | • | |||
Provision of broadcast circuits and technical facilities to third parties | • | |||
Television programme sales | • | |||
Studio production of television advertisements for third parties | • | |||
Hire of radio production facilities to third parties | • | |||
Roadcaster mobile studio and promotional sales | • | |||
Studio production of radio advertisements | • | |||
Sale of music copyright | • | |||
Provision of international paid-for video-on-demand services | • | |||
Generation of revenue from Orchestra performances | • | |||
Production and publication of the RTÉ Guide magazine | • | |||
RTÉ Guide advertising sales | • | |||
Administration of Commercial Division | • | |||
AUDIENCE, CHANNELS AND MARKETING DIVISION | ||||
Free-to-air broadcast of public-service television schedules and channels | • | |||
Free-to-air broadcast of public-service radio schedules and channels | • | |||
Promotion and marketing of services and channels | • | |||
Provision of RTÉ Aertel teletext services | • | |||
Provision of a range of free-to-public, public-service web-based online services | • | |||
Operation of the RTÉ Player and rte.ie to domestic and international audiences | • | |||
Incubation and development of new media technologies | • | |||
Provision of additional opportunities to access RTÉ’s public-service news content via RTÉ News Now Online | • | |||
Administration of Audience, Channels and Marketing Division | • | |||
CONTENT DIVISION | ||||
Commissioning and production of indigenous television and radio programmes | • | |||
Statutory commissioning of programme content from independent EU producers | • | |||
Acquisition of domestic/non-domestic television and radio programmes | • | |||
Statutory provision of non-news and current affairs programming to TG4 | • | |||
Maintenance of television channel archives and news library | • | |||
Sale of library and archive material | • | |||
Maintenance of radio channel archives and library | • | |||
Orchestral and choir performances | • | |||
Commission, production, performance and recording of orchestral and choir music | • | |||
Administration of Content Division | • | |||
NEWS & CURRENT AFFAIRS DIVISION | ||||
Provision of a national and international news-gathering service | • | |||
Production and coverage of television and radio news bulletins, events and programmes | • | |||
Commissioning and production of current affairs programmes | • | |||
Statutory provision of news and current affairs programming to TG4 | • | |||
Provision of news and current affairs content to RTÉ’s free-to-access public-service online services | • | |||
Administration of News & Current Affairs Division | • | |||
NETWORK DIVISION | ||||
Provision of national analogue radio broadcast transmission services | • | |||
Provision of national digital radio transmission services | • | |||
Provision of multiplexing, transmission and distribution services to multiplex operators | • | |||
Hire of ancillary mast and tower facilities | • | |||
Administration of 2rn | • | |||
OPERATIONS & PRODUCTION SERVICES DIVISION | ||||
Provision of television, radio and online production services to Content and News & Current Affairs | • | |||
Provision of television, radio and online production services to Audience, Channels and Marketing | • | |||
Provision of site and related infrastructural support services | • | |||
Administration of Operations Division | • | |||
OTHER DIVISIONS | ||||
Technology & Transformation, Human Resources and Finance Divisions | • | |||
Corporate Division including Corporate Communications, Legal and provision of DTT Multiplexing services to broadcasters (Saorview) | • | |||
CORPORATE HQ | ||||
Holding of investments in broadcasting-related activities | • | |||
Direction and overall operation of public-service broadcaster | • |