RTE studios in Limerick to be upgraded with proceeds from the sale of its share in GAAGO
RTÉ has confirmed that it has received payment from the GAA for its 50% share of GAAGO
RTÉ has confirmed that part of a €3 million windfall from the sale of its GAAGO stake will be invested in its Limerick studios.
RTÉ received payment from the GAA for its 50% share of GAAGO on Thursday.
RTÉ confirmed this month that it had agreed in principle with the GAA to sell its interest in GAAGO and to reinvest the revenue raised in the provision of services to the public. RTÉ also stated at the time that any final agreement would be subject to the necessary consents and approvals being in place.
These consents and approvals are now in place and receipt of this payment from the GAA means that the sale of GAAGO is now complete.
RTÉ will use the proceeds from the sale of its share in GAAGO to invest in its regional studios and production facilities, particularly in Limerick, Cork and Galway.
Commenting on the completion of the sale, RTÉ Director-General, Kevin Bakhurst said:
“The establishment of GAAGO as a joint venture with the GAA in 2014 was a game changer, enabling fans of Gaelic games around the world to access our national games. I want to thank all of those who contributed their knowledge and expertise to the vital establishment of GAAGO and acknowledge the successful collaboration with the GAA as the service developed, particularly during the pandemic period when people could not physically attend their beloved games. The completion of the sale means that we can make good on our commitment to reinvest these funds in the production of programming and content for audiences, particularly in our regional production studios and facilities outside Dublin." "I’d like to take this opportunity to wish the GAA continued success with its GAA+ service and we look forward to continuing to work closely with them in supporting Ireland’s national games for many years to come.”
GAAGO was established in 2014 as a joint venture between RTÉ and the GAA.