The US-based cable operator Liberty Global said on 5 February 2013 that it will acquire Virgin Media in a stock and cash merger valued at $23.3 billion, eyeing key strategic markets in Europe.
The cash and stock deal announced on 4 February creates a company that will provide stiffer competition in the UK to satellite TV provider BSkyB, in which Malone's rival Rupert Murdoch's News Corp. owns a 40 percent stake.
Liberty Global and Virgin Media said tie-up will create a broadband communications company covering 47 million homes and with 25 million customers in 14 countries. The new company will focus on “the strongest and most strategic markets in Europe, with the scale to be at the forefront of technological change for customers.”
Liberty Global has pay-TV operations around the world and is the largest cable operator in most of its 11 European markets.
Virgin Media has approximately seven million customers in Britain, where it provides broadband Internet, telephone, television and mobile phone services. Its main competitor is pay-TV satellite broadcaster BSkyB.
Source: http://cablequest.org/news/international-news/item/535-liberty-global-buys-virgin-media-for-$233-billion.html
Source: http://cablequest.org/news/international-news/item/535-liberty-global-buys-virgin-media-for-$233-billion.html
Source: http://cablequest.org/news/international-news/item/535-liberty-global-buys-virgin-media-for-$233-billion.html
Source: http://cablequest.org/news/international-news/item/535-liberty-global-buys-virgin-media-for-$233-billion.html
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