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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.
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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