Virgin Media is inserting a clause into the sale of its three vmTv channels which prevents any buyer from selling the units on to a company which is fully or partly owned by News Corp. The deal also extends to Virgin’s 50% share in UKTV. News Corp is still allowed to buy the assets direct from Virgin.
Viacom, Channel 4, Time Warner and BSkyB, which is 40%-owned by News Corp, are believed to be the only firms still in the running to buy vmTv channels Living, Bravo and Virgin 1. Sky is believed to have lodged the highest bid so far, with a decision on the sale due next month. City analysts are predicting the sale will be worth around GBP80m (USD122m).
Virgin is selling its stake in UKTV separately from vmTV. BBC Worldwide has first refusal.
StrategyEye's related categories: TV Channels - General TV, Broadcasters - Cable
StrategyEye's related companies: UKTV, News Corporation, Virgin Media
