The Irish pay-TV company is frantically trying to secure funding to save itself from collapse. Founders Michael O'Rourke and Leonard Ryan are believed to be seeking buyers for the US and Irish operations in an attempt to find part of the £100m needed to secure its future.
Creative agencies Beattie McGuinness Bungay, Miles Calcraft Briginshaw Duffy and the incumbent, Big Al's Creative Emporium, were lined up to pitch for the business but Setanta has put this on hold while it struggles to find funding.
The fate of the broadcaster is expected in days after Setanta put out a statement on its website saying: ‘In the current circumstances, we have decided to suspend temporarily the acceptance of new subscriptions.'
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