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€118m TV3 writedown

THE COMPANY behind broadcaster TV3 wrote down the goodwill value of the business by €118.7m last year.

Tullamore Beta was used by British private equity group Doughty Hanson to acquire TV3 for €260m four years ago. The firm has continued in operation as TV3's parent company and reported total pre-tax losses of €165.3m for the full year, new accounts show. Tullamore Beta's turnover last year was €54.3m.