While the intended buy-out of Tv3 by private equity group Doughty Hanson is old news at this stage the turmoil over the water at ITV plc headquarters has likely squashed whatever remote chance that existed of ITV enacting its pre-emption rights which would allow it to out-bid the group within 90 days of their offer being made.
The waiting period in which the pre-emption can happen is due to end (by my count) on the 17th of August at which point €295m will be paid for 100% of the Irish commercial broadcaster.
It’s hard to say what will happen next; some rumours say Doughty Hanson is acting on behalf of another group while others figure it is investing now in order to sell the company down the line; probably on once it gets a DTT space and renews its TV licence in 2008.
Perhaps come the end of August we will be slightly more informed on the matter but either way don’t expect much to chance on your TV set for the time being.