Pictured: Tony Hanway, CEO, Virgin Media Ireland (left) and David McRedmond, CEO TV3 Group.
Following the acquisition of TV3 by Virgin Media Ireland, which was completed this week, the station’s CEO David McRedmond has stepped down from the job to pursue other opportunities.
“I am delighted that this sale is now completed. TV3 has consistently punched above its weight to compete in the Irish market and with the backing of the world’s largest international cable company, TV3 can now achieve its full potential. This is the right time for new leadership to take the reins. I have enjoyed every day at TV3 working with such a talented, creative and friendly team. I want to thank TV3’s departing investors Doughty Hanson for their professionalism, loyalty and support particularly during the recession. Liberty Global through Virgin Media is a world-class owner for the business and I wish them every success,” says McRedmond.
McRedmond, a native of Dublin, had spent most of his career in the UK and the United States, returning to Ireland in 2000. Prior to his appointment in TV3, he was the group commercial director of eir, which was also in the news this week following its acquisition of Setanta Sports. Prior to joining eir, he worked in retailing in the UK and USA, including stints as operations director of Waterstone’s, managing director of WH Smith Travel Retail and CEO of WH Smith in the USA.
According to Tony Hanway, CEO of Virgin Media Ireland: “We’re delighted to welcome TV3 to the Virgin Media family. Ireland is an important growth market for Virgin Media and this transaction represents our company’s first entry into the free-to-air broadcasting sector. This acquisition also secures TV3’s long term future and provides it with a strategic partner to build on its success both in Ireland and internationally. With TV3’s future now secure, David McRedmond has decided to leave the business by year end to pursue other opportunities. While I am sorry to lose David from TV3 he leaves with our best wishes. Under his leadership TV3 has transformed the Irish broadcasting landscape, introducing real competition, innovating with high quality Irish programming and delivering profitable growth. David has built a first-class team in TV3 and I look forward to working with them for the next phase of growth for TV3 and Virgin Media.”