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RTÉ Land Sells for over €75M
13 Jun 2017 : Katie McNeice
Director General Dee Forbes has confirmed that following a competitive process, Savills has concluded the sale of just under 9 acres of land on its Donnybrook campus to Cairn Homes Plc.

RTÉ have also confirmed the agreed sale price for the land has exceeded the guide price. This follows an announcement in March of this year that the land which has been occupied by the national broadcaster since 1961 held a guiding price of €75M.

Dee Forbes, Director-General RTÉ:
"RTÉ is happy to confirm the sale of land on our Donnybrook site. Our decision to sell this land was driven by the fact that, since 2008, RTÉ has been operating with vastly reduced commercial and licence fee income, approximately €100m annually. As a result, we have been under-investing in the organisation for almost a decade, a situation that is unsustainable. The funds raised will now be invested in capital projects, including much-needed technology upgrades and key digital infrastructure, and in making important changes to our organisational structure, essential workplace improvements, and reducing debt levels."

"RTÉ is playing catch-up in an industry and market that is evolving rapidly, as Irish audiences embrace new technologies which are influencing how and when they consume content, including RTE content. The investment which has been enabled by this land sale, along with further restructuring of the organisation, will allow us to better serve the needs of our audiences.”




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