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8-K - 8-K - VIRGIN MEDIA INC.a10-13956_18k.htm

Exhibit 99.1

 

For immediate release: 13th July 2010

 

BSkyB and Virgin Media complete sale of VMtv

 

British Sky Broadcasting (Sky; LSE: BSY) and Virgin Media (NASDAQ:VMED; LSE:VMED) today announced that Sky has completed the acquisition of Virgin Media Television (VMtv) following regulatory approval in the Republic of Ireland.  VMtv has now been re-named the Living TV Group.

 

In completing the acquisition, Sky has paid Virgin Media an initial £105 million.  Up to an additional £55 million will be paid on UK regulatory clearance.

 

Sky has acquired LIVING, LIVINGit, Challenge, Challenge Jackpot, Bravo, Bravo 2 and Virgin1 and their related websites.  Sky will not license the Virgin brand and will announce the new channel brand for Virgin1 in due course.

 

- Ends -

 

For further information:

 

Media

 

Sky:

 

Stephen Gaynor

stephen.gaynor@bskyb.com

020 7705 3446

 

Virgin Media:

 

Gareth Mead

gareth.mead@virginmedia.co.uk

020 7299 5703

 

Investors

 

Sky:

 

Francesca Pierce

francesca.pierce@bskyb.com

020 7705 3337

 

Virgin Media:

 

Richard Williams

richard.williams@virginmedia.co.uk

020 7299 5479

 

Sam Horrocks

sam.horrocks@virginmedia.co.uk

020 7299 5353