The BBC reports that Setanta is in administration and will cease to broadcast in the UK within a few days. They have already stopped collecting subscription fees.
American broadcaster ESPN has now bought the rights to all Premier League matches that Setanta were due to air next season.
"This is a sad day for all concerned. Unfortunately, in a difficult and highly competitive market, and despite strenuous efforts by the board and management, it has not been possible to find sufficient additional funds in the time available to ensure its survival."