Motive Television (AIM: MTV) said today its Dublin-based production arm signed a three year €1.725 million deal with Irish broadcaster TV3 to produce 38 live UEFA Champions League and Europa Cup football matches for the channel.
The programmes will be co-produced with Asgard Media. The two companies won a three year deal with TV3 for the production of live Gaelic Athletic Association Championship football and hurling back in April.
The contract win helped Motive to a 30% hike in early trade.
Motive also said that due to the currently low production commissioning levels the company’s board decided to “take a prudent view as to the amount that may be recovered” from the loans made it its subsidiary television production business. As a result, Motive said its net assets could be half the size of its called up share capital.