Virgin Media sold for £10bn
A US cable firm has confirmed that it will buy Virgin Media in a deal worth £10 billion. Liberty Global said the agreement would create "the world's leading broadband communications company".
US billionaire snaps up Virgin Media
Virgin Media's new owner, Liberty Global, is controlled by John Malone who has been trying to seal a deal for more than a decade:
- Virgin Media was created by the merger of cable operators NTL, Telewest and Virgin Mobile in 2006
- Malone began buying up stock in Telewest and tried to acquire NTL back in 2000
- The deal marks his largest European acquisition
- Liberty Global already ranks as the largest cable operator in Europe with 18.4 million subscribers
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