Liberty Global, owner of Virgin Media, has confirmed its purchase of a small stake in ITV from BSkyB for approximately GBP 481 million. As a result of this investment, Liberty Global will own approximately 6.4% of the UK’s leading commercial broadcaster.
“This is an opportunistic and attractive investment for us in our largest cable market,”comments Mike Fries, Liberty Global’s Chief Executive Officer. “ITV is the leading commercial broadcaster in the UK and we’re excited to be shareholders.”
Paolo Pescatore, Director, Apps & Media at analyst firm CCS Insight, offered the following insight to IP&TV News:
“This morning’s deal between Liberty Global and BSkyB is yet another key sign that the pay-TV provider is raising funds to expand into Europe and strengthens recent speculation that BSkyB is in talks with its German and Italian counterparts to create a European empire. However, this is an equally good move for Liberty Global whose recent deal with All3Media send strong signals from the cable company and a recognition that to compete it cannot rely on just connectivity alone. “