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Liberty Global Closes Virgin Media Purchase - Broadcasting & Cable

Liberty Global Closes Virgin Media Purchase

U.K. cable operator has 4.9M subscribers
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Liberty Global said Friday it has closed on the purchase of
Virgin Media, the U.K. cable company with about 4.9 million customers, for $24
billion in cash and stock.

Liberty first announced
the deal in February
.

"This is a great day for customers, employees and
shareholders of both Liberty Global and Virgin Media," Liberty Global CEO Mike
Fries said in a statement. "Together we now provide over 47 million video,
voice and broadband services to 25 million customers located principally in 12
European countries. With superior network capacity, the fastest broadband
speeds and innovative digital TV platforms, we've never been more excited about
the growth potential and strategic direction of our business."

Click
here to read the full story at Multichannel News.

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