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Volume 24 No. 117
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Liberty Global To Purchase Virgin Media In Deal Valued At $23.3B

Liberty Global announced that it has agreed to purchase Virgin Media, which "serves about 5 million cable-TV subscribers" in the U.K., with a cash-and-stock deal valued at $23.3B. The acquisition will pit Liberty's John Malone "against fellow media mogul Rupert Murdoch in Europe's largest pay-TV market." After the acquisition, Liberty "will overtake Comcast as the world's largest cable company, growing to roughly 25 million subscribers in 14 countries" (DENVER POST, 2/6).