Liberty Global to buy Virgin Media for $16 bln
The acquisition, the largest media transaction since 2007, opens a new battleground with billionaire Rupert Murdoch, who controls British Sky Broadcasting Group.
Liberty Global has agreed to buy cable television provider Virgin Media for $16 billion in cash and stock to challenge Rupert Murdoch in Europe’s biggest pay-TV market.
The acquisition, the largest media transaction since 2007, puts Liberty Global in a dead heat with Comcast as the world’s biggest cable company, and opens a new battleground with billionaire Murdoch, who controls British Sky Broadcasting Group.
The deal values Britain’s second-biggest pay-TV company at $47.87...
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