www.sbpost.ie/post/pages/p/story.aspx-qqqid=1817-qqqx=1 -
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Published on: 1/23/2005
Last Visited: 1/27/2005
Murphy and the outgoing chief executive of advertising firm Carat, Pat Donnelly, have hired Investment Bank of Ireland (IBI) to raise ,10 million from venture capitalists and high net worth individuals to fund the station.
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Murphy, 4 4, f i r st approached Donnelly with the idea last year.
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“By the time we raise funding and get a premises it will be later in the year before we get it going,†said Donnelly.He said the channel would be “a young person's station'‘.
“I think the market is there,†he said. “You only have to look at the figures that TV3 is putting up.
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Donnelly co-founded All Ireland Media in 1985 and was a major beneficiary when the firm was bought outright by the Carat group for ,22.3 million in 2002.