Media

Liberty Global to Acquire Virgin Media

Published on February 6, 2013
by Dana Cimilluca, Lilly Vitorovich and Anupreeta Das

John Malone’s international cable business Liberty Global Inc. has agreed to acquire U.K. cable-television and Internet provider Virgin Media Inc. for $16 billion, in a deal that may create a stronger rival to market leader British Sky Broadcasting Group PLC.

Liberty Global will pay for the deal using a mix of cash and its stock, totaling $47.87 per Virgin Media share, based on Monday’s closing prices, the companies said in a joint statement Tuesday.

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