Irish pay-TV company Setanta has been placed into administration after rescue talks designed to secure new funding collapsed, reports The Guardian. Accountancy firm Deloitte has confirmed it has been appointed as administrator for the UK part of the business, which employs about 200 staff. They will now be made redundant.
Setanta Sports News, the company's joint venture with Virgin Media, which is produced by ITN and employs about 60 staff, will also cease broadcasting.
The broadcaster's other wholly owned channels, including Setanta Sports 1 and 2, are also expected to go off air.
The pay-TV operator has suspended the collection of subscription payments from customers in the UK with immediate effect.