The Old Firm are to launch a television channel to broadcast their and other Scottish Premier League (SPL) games following the demise of the Irish broadcaster’s UK operations last month, according to reports.
The two Glasgow clubs are understood to be unhappy with what they claim is a cut-price deal being offered by Sky and ESPN to show live matches.
The two broadcasters, who will also now split coverage of the English Premier League after ESPN picked up the games that were to be shown by Setanta last month, have offered a £65m five-year deal.
Under the previous arrangement, the SPL were set to bank about £130m over four years. Rangers and Celtic are believed to offering £25m over two years.
Rangers chief executive Martin Bain confirmed talks had taken place between the two, adding he was “deeply disappointed” by the deal on offer from Sky and ESPN, reports say.
Setanta fell into administration last month after failing to make payments to the Premier League.