Commercial television channel TV3 is to buy Channel 6 from its founders and a consortium of investors for an undisclosed sum.
The deal is subject to approval by the Broadcasting Commission of Ireland. Channel 6, launched in 2006, provides programmes targeted at an under-35 audience. It is available in more than 80% of multi-channel homes in the Republic through NTL, Chorus and Sky platforms.
Channel 6 was founded by Michael Murphy. Its backers include Senator Feargal Quinn, the Barry tea family in Cork and motor distributors the Gowan Group.
TV3 is owned by private equity firm Doughty Hanson, which initially backed TV3's management in a €265m buy-out from CanWest, ITV and a consortium of private investors in 2006.
TV3 chief executive David McRedmond said Channel 6's programme inventory, distribution and listings would 'provide a fast route to TV3's stated intention to be a multi-channel Irish content provider'.
