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Thu 06 Jun 2009Founders in last-ditch effort to save Setanta Sports
SETANTA SPORTS founders Leonard Ryan and Michael O’Rourke are working to a weekend deadline in their last-ditch effort to rescue the ailing pay-TV company from the brink of administration with a £40 million (€46.68 million) refinancing deal.
Although telecoms operator BT and Disney-owned ESPN are also said to be mulling investment proposals, Setanta confirmed yesterday that it had stopped accepting new subscriptions as it seeks to avert collapse.
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