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Irish Independent - - Business -

Sun­day In­de­pen­dent

COM­MER­CIAL broad­caster TV3 has strongly ob­jected to plans by RTÉ to ex­tend its tele­vi­sion ser­vices, ar­gu­ing that the State-owned com­pany should tackle its on­go­ing losses be­fore adding new ser­vices.

RTÉ made a for­mal sub­mis­sion for the ser­vices to the De­part­ment of Com­mu­ni­ca­tions on June 25, with the de­part­ment seek­ing stake­holder views in re­cent weeks.

As part of RTÉ’s new fiveyear strat­egy, it pro­poses new ser­vices in­clud­ing an RTÉ 2+1 chan­nel – which airs the main chan­nel an hour later – while ex­tend­ing the hours of its RTÉ 1+1 sta­tion, which cur­rently airs af­ter 7pm each day.

TV3, which will soon be re­branded as Vir­gin, is strongly ob­ject­ing to the plan.

Sun­day Times

APOLLO Global Man­age­ment is in ex­clu­sive talks to buy the Ir­ish ho­tel group Tifco from Gold­man Sachs.

The US pri­vate eq­uity firm, which has sub­stan­tial ho­tel in­ter­ests in the UK, is be­lieved to have beaten a ri­val bid from TPG Cap­i­tal.

Tifco, the se­cond-largest ho­tel group in Ire­land af­ter Dalata, owns 18 ho­tels and man­ages oth­ers. It had been spec­u­lated that the group could be sold for as much as €600m, but the likely sale price will prob­a­bly be sig­nif­i­cantly less.

Sun­day Busi­ness Post

DE­VEL­OPER Noel Smyth is set to sell a key part of the Arnotts port­fo­lio that he ac­quired af­ter win­ning out in a show­down with fund be­he­moth Apollo sev­eral years ago.

Mr Smyth is sell­ing what is known as the Blue Build­ing on Dublin’s Henry Street, next to the his­toric de­part­ment store.

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