As far as TV3 are concerned their choices are either to try and sell up to UTV (who would be especially interested in their 103 slot on Sky, where they don't currently have a listing on the Irish EPG
). The problem with this, aside from TV3's debt, would be the PSO obligations that would be coming with it. The other option would be to reinvent themselves as something akin to their pre-Granada deal incarnation, a sort of a merger of the current TV3 and 3e. (that said, they would possibly wish to keep 3e even in a vestigial form to stave off any claim UTV might make to 105 in the event of its closure)
As far as UTV is concerned, their deal with ITV only gives them rights in the Republic to what TV3 had - so no news, sports, movies, imports, or programmes not commissioned via ITV Studios. That said they could probably get rights for some more ITV programmes, such as Daybreak to fill the schedule. It'll be a big blow not having ITV's coverage when the Rugby World Cup comes around again in 2015 though I suppose I could always put up a dish for that.