10th Sep 2014 06:24
(An item published 0627 BST misstated the day of the report. The correct version follow.)
LONDON (Alliance News) - Liberty Global Inc, the owner of Virgin Media and which holds a minority stake in ITV PLC, is looking to make further investments in the UK to complement its existing UK holdings, the Daily Telegraph reported Tuesday.
Jim Ryan, Liberty Global's chief strategy officer, said during a speech at a Royal Television Society conference that the group is looking to "find some portfolio investments we can use to enhance the Virgin Media acquisition".
Ryan refused to be drawn on speculation regarding the possibility of Liberty increasing its stake in ITV, the Telegraph said. Liberty bought a 6.4% stake in the FTSE 100-listed broadcaster for GBP481 million earlier this year from British Sky Broadcasting Group PLC.
"We have no current plans to build that stake," said Ryan, adding the current stake it holds gives the company a "seat at the table" on UK content discussions".
Ryan also used the speech to attack the campaign launched this week by ITV Chief Executive Adam Crozier to try and force pay-TV operators, like Virgin and BSkyB, to pay retransmission fees to public service broadcasters in the UK. "We certainly don't feel that the transmission debate is something we should be supporting," Ryan said.
http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/11085626/Virgin-Media-owner-Liberty-Global-on-the-hunt-for-more-UK-assets.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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