BSkyB and Virgin Media complete sale of VMtv

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 approval.

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.

-END-

For further information:

Media

Robert Fraser email: [email protected] Tel: 020 7705 3706

Stephen Gaynor email: [email protected] Tel: 0207 705 3446

Investors

Francesca Pierce email: [email protected] 

Tel: 020 7705 3337

Lang Messer

Email: [email protected]

020 8800 2657