Irish-owned broadcaster Setanta Sports is gauging the interest for a potential sale of the company after finding a float too tricky an option in the current market. Timesonline.co.uk reports the international pay TV company, which airs English Premier League Football, is thought to be seeking a valuation of over £1 billion pounds, though it has yet to make a profit. Goldman Sachs, one of the company’s main shareholders, has been instructed by other investors to “informally” seek out possible buyers—which could include BT (NYSE: BT), ITV (LSE: ITV), Virgin Media (NSDQ: VMED) and Disney (NYSE: DIS). Disney own sports network ESPN, which is interested in entering the British football rights industry.

The company has 1.2 million premium subscribers in the UK and another two million viewers on Virgin Media, and has been offering deep discounts to secure more customers. It expects to earn revenues of €500million (£373million) in 2008, and break even by the end of the year. It may run into competition on digital terrestrial TV, if Sky gets the right to launch Picnic, its pay TV offering to Freeview customers.

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