UTV expecting to lose millions
UTV expects its new TV station in Ireland to generate losses of between £2m and £3m (€2.5m and €3.7m) next year, but to move into profitability by the second half of 2015.
It revealed the forecast for UTV Ireland in its interim results yesterday.
The media group also said that it had so far incurred £500,000 (€628,000) of start-up costs related to the new channel, which will launch on January 1 from its Dublin base.
UTV's target is to make the new station the most watched channel in Ireland after RTE 1.
Their programme line-up includes soaps Coronation Street and Emmerdale, shows that have until now been part of the TV3 schedule.
UTV Ireland will also show a large amount of other ITV content, while home-produced programming will include a show to be hosted by broadcaster Pat Kenny (above).
The company also owns a number of radio stations in Ireland, including FM104 and Q102 in Dublin and 96FM in Cork.