ESPN, the US sports network owned by media giant Disney, has ruled out a bid for troubled Irish pay-TV company Setanta, reports The Guardian. Selling the business to a cash-rich competitor such as ESPN would have been a quick and easy way of ensuring the company's survival. ESPN was regarded by many industry observers as the main potential buyer for the business.

However, a spokesman for ESPN, which is keen to expand its portfolio of UK sports rights, said: "We currently have no plans to buy Setanta. There are a lot of stories out there linking us with a possible purchase and we wanted to set the record straight."