Virgin Media begins sale of its content operations

LONDON - Virgin Media has formally begun the sale of its content operations, issuing a sales memorandum for its Virgin Media TV unit, owner of channels such as Living, plus ad sales house IDS. It has excluded its 50% stake in UKTV from the sale.

Virgin Media: its 50% UKTV stake will be sold separately
Virgin Media: its 50% UKTV stake will be sold separately

It is thought the UKTV stake will be sold separately, when there is less uncertainty about the future of joint owner BBC Worldwide. The BBC's commercial arm is currently locked in talks with Channel 4 over a proposed joint venture - as part of Lord Carter's Digital Britain initiative- aimed at helping to secure Channel 4's future.

It had been thought Virgin would look to sell its entire content operations at once, for an estimated £500m. Last week, however, the company announced a deal to sell its TV shopping channels arm, Sit-up TV, to German-based investment vehicle Aurelius for an undisclosed sum.

A senior source close to Virgin Media said: "The feeling is that the [UKTV] stake cannot be sold while there's uncertainty around Carter's vision for the future of broadcasting."

Virgin Media values its 50% share in UKTV at £367.7m, implying a total value for the business of £735.4m.

Virgin Media declined to comment on the matter.

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

My Media Week: Barnaby Rothwell

My Media Week: Barnaby Rothwell

This week, Barnaby Rothwell, promotions director, UK & EMEA at Disneymedia+, focuses on a major collaboration with Sky and Pixar, the ongoing 'Star Wars Rebels' promotion and sorting wedding pics

Share
Hotpoint sponsors Good Food Channel

Hotpoint sponsors Good Food Channel

Hotpoint Appliances is sponsoring the Good Food Channel's World of Flavour strand in a six-figure deal, with idents running until September next year.

Share
Media Owners take games into their own hands

Media Owners take games into their own hands

A new generation of gamers is sharing and viewing content in ways that have caught the attention of media owners. But can they harness these trends to grow their businesses? Jason Kingsley OBE, chief executive of games maker Rebellion shares his thoughts.

Share

Get news by email