Property TV channel postponed until late 2009
Thursday August 28 2008
B2B publisher Commercial Media has postponed the launch of Ireland's first property TV channel until "late 2009" while the start date for the group's women's TV station has been pushed back until 2010.
Commercial secured both licences from the Broadcasting Commission of Ireland (BCI) in 2006. The group initially planned to launch the Property Channel in 2008 and the women's station, dubbed WTV, in September 2008.
"We are still confident about the Property Channel, but we're going to wait until late 2009 to give the market a chance to settle down," Commercial boss Tony Cantwell told the Irish Independent.
"If you look at Real Estate TV and the other international channels there's still a market for the channel and the interest hasn't abated, but the ad money is key to all this so we have to get the timing right."
Commercial is planning to invest between €2m and €3m in WTV, which will target the 25 to 55 age group.
"If we get it right it could work really well, but with the ups and downs economically we're probably looking at a launch in 2010 for WTV," said Cantwell.
Commercial is one of Ireland's largest business to business publishers with a turnover of more than €3m.
Entering into the TV market is believed to be just part of Commercial's plan to become a multi-media group, and significant digital projects are also expected.
