The deal will see the Georgian based company assume control of Setanta Sports Eurasia, making it one of the largest sports media entities in the Eurasian market.
Setanta Sports operates in 13 counties (Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Tajikistan, Turkmenistan and Uzbekistan) and was set up in 2011 by original Setanta founder Michael O’Rourke alongside long time Setanta director, Dwyer McCaughley. Both will continue to advise Adjarasport and remain on the board of directors. Significantly, the deal does not include Setanta Ukraine, which will continue to be owned and operated by its existing shareholders.
Adjarasport is a member of the Adjara Group, which has significant interests in hospitality, lifestyle development, sports betting, gaming and entertainment in the existing markets. The channels will continue to be branded Setanta Sports Eurasia and broadcast its portfolio of rights in the markets.
Setanta Sports Eurasia has distribution agreements with over 150 platform operators and is available in 10 million homes in the market.
Commenting on the transaction, Dwyer McCaughley, chief executive of Setanta Sports Eurasia, said: “During the past 10 years, Setanta Sports Eurasia has become the number one provider of sports TV in the Eurasian market. This acquisition by the Adjara Group will help propel the Setanta Sports brand to the next level as it seeks to expand its OTT propositions and develops further localisation within the territories”.
Giorgi Pruidze, CEO of Adjarasport, added: “We are happy and proud of this agreement because we have the opportunity to establish our standard and vision not only in the local but also in the international market”.