Go Back   Eurocardsharing > General Discussions > General Satellite News > Latest Satellite News

Latest Satellite News Discussion, BSKYB Buy VirginMedia Channels at General Satellite News forum; BSKYB today confirmed that it has finalised the deal to buy Virgin Media Television, which operates channels including Living, for ...

LinkBack Thread Tools Display Modes
BSKYB Buy VirginMedia Channels
Special Friends
PLAN B's Avatar
Posts: 2,750

Level: 41 [♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥]
Life: 101 / 1017
Magic: 916 / 34624
Experience: 68%

Thanks: 373
Thanked 956 Times in 498 Posts
Join Date: Feb 2007
Location: RG45 7EG
Age: 52
BSKYB Buy VirginMedia Channels - 04-June-2010, 23:30

BSKYB today confirmed that it has finalised the deal to buy Virgin Media Television, which operates channels including Living, for up to 160m in cash.

Sky will pay 105m up front on completion of the deal, with the remainder to follow completion of the regulatory process. The acquisition will need to be cleared by competition regulators in the UK and Ireland.

The pay-TV company is buying VMTV's portfolio of subscription channels Living, Livingit, Challenge, Challenge Jackpot, Bravo, Bravo 2 and Virgin1, which is available on digital terrestrial TV service Freeview.

Sky Media will also take over selling advertising airtime on VMTV's channels from Virgin's sales house, IDS, in January 2011.

As part of the deal, Virgin Media has secured new long-term carriage agreements for its cable TV network for wholesale distribution of Sky's basic subscription channels, including Sky1, Sky News and Sky Arts, and the services it is selling.

The new carriage deals are understood to be for up to nine years. Previously the carriage deals tended to be struck every three years.

For an incremental wholesale fee, Virgin Media will also for the first time have the option of carrying any of Sky's basic HD channels, Sky Sports HD 1 and Sky Sports HD 2, and all Sky Movies HD channels.

Content from Sky's basic and premium channels and the VMTV services will be available through Virgin Media's on-demand service. Virgin Media will also have access to Sky Sports' red button interactive coverage and be able to deliver some Sky programming over the internet. revealed last week that a deal was very close to be finalised after more than a year of complex negotiations.

The sale of VMTV to Sky is expected to be the first step in a consolidation of the UK commercial TV sector that is also likely to see new ownership of Channel Five.

Jeremy Darroch, BSkyB chief executive, said: "VMTV is an attractive investment opportunity which complements our existing content business and delivers strategic and financial benefits. We are pleased that, through commercial negotiation, we have been able to ensure wide distribution of our channels to a growing pay TV universe."

Neil Berkett, chief executive of Virgin Media, added: "The sale of our channels business has generated substantial value. Together with the new commercial agreements we've announced today, it will allow us to focus more closely on our strategy of exploiting Virgin Media's super-fast connectivity to offer our customers a range of the very best content through a highly versatile next generation entertainment application.",

Reply With Quote


bskyb, channels, virginmedia

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Forum Jump

ECS on RSS ECS on Twitter ECS on Facebook ECS on Youtube
Follow us on:

Powered by vBulletin
Copyright 2002 - 2010, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.