'Unavoidable redundancies' as TV3 owner Virgin Media concludes acquisition of UTV Ireland
A number of redundancies will be "unavoidable" following TV3 owner Virgin Media's acquisition of UTV Ireland.
Some 40 vacancies have been made available at TV3 following today's announcement.
It is understood that some of the 61 permanent staff currently employed at UTV Ireland will fill these vacancies.
Staff are to be offered redeployment opportunities under a restructuring programme that will consolidate the two businesses into one.
From December 5, the company will enter into a 30 day consultation period - and the plan is expected to be completed by January 2017.
UTV Ireland, which is currently based in Macken House, will move to TV3’s headquarters in Ballymount.
The UTV Ireland channel will rebrand over the coming weeks and will join TV3’s existing group of channels, TV3 and 3e.
"The combined TV3 Group business is now better equipped to compete against significant local and international broadcasters," Managing Director of TV3 Pat Kiely said.
The company also confirmed it will have three free-to-air TV channels operating under the TV3 Group.
"I am confident that our new three channel structure will drive the future potential and long term growth of the business,” said Mr Kiely.