Owners of Virgin Media Liberty Global has acquired a 6.4% stake in ITV, the UK's leading commercial broadcaster at a cost of £481m. Mike Fries, Liberty Global CEO said "This is an opportunistic and attractive investment for us in our largest cable market [...] and we're excited to be shareholders."
This comes after Liberty Global sold its content arm Chellomedia to AMC networks in OCtober of last year.
From its new position, Virgin Media will now be able to view recent exclusive deals between ITV and fellow shareholders BSkyB over the carriage of new launches ITVbe and ITV Encore.
BSkyB acquired a 17% stake in ITV back in 2006 but a ruling by the Competition Commission in 2007 saw the company having to cut their stake to below 7.5% after it was stated purchase gave BSkyB undue influence in the UK media and wasn't in the public interest.
Liberty Global's new holding in ITV is said to be at a level that will not trouble the regulators.
DTG Staff | 17.07.2014