Rescue bid may save pay-TV Setanta
US-based tycoon Len Blavatnik is working on a £20 million 11th hour rescue deal for pay-television firm Setanta, it has been reported.
Mr Blavatnik is offering to buy 51% of Setanta in a move that could help secure the future of the cash-strapped Irish-based firm as it seeks to stave off administration, according to reports.
The US investor is also said to have interests in Top-up TV, which is Freeview's pay-TV service.
The firm declined to comment on the reported deal with Mr Blavatnik, although sources close to the company said it was still working hard on options to refinance the business.
