Liberty Global is currently conducting due diligence on Irish broadcaster TV3 with a view to purchasing the business. Talks are said to be advanced stage but a deal is not expected for several months and would require ministerial and regulatory clearance.

TV3’s owners are looking for a price of between €120 million and €150 million according to reports. Doughty Hanson has owned TV3 since 2006 but speculation about the future of the stake in the Irish TV station and about the private equity firm’s other interests has mounted after an announcement last month that the European private equity firm was dropping a fundraising effort aimed at raising cash to buy companies, and would instead focus on its remaining portfolio.

The firm had been trying to raise capital for its sixth fund, but will now try to “maximise the value” of its remaining companies.

Liberty Global already owns the UPC Ireland cable TV, telephone and broadband company.

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