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Media
Sky close to buying Virgin channels, may bid for Five
By CMU Editorial | Published on Thursday 27 May 2010
Talking of Sky, they themselves are about to become more dominant in the UK cable TV market by buying Virgin Media’s TV channels, Virgin1, Living, Bravo and Challenge.
Virgin have been toying with selling their wholly owned cable channels for a while, and Sky has been a key bidder thoughout, despite Virgin1 originally being created to piss off Sky when the cable telly firm had to take Sky One of its network during its highly public squabble with its satellite TV rivals. Insiders say that Sky’s negotiations to buy the four Virgin channels could result in a deal being struck this week.
Sky is also expected to make a bid for Channel Five, which current owners RTL are rumoured to be putting up for sale shortly. Though Sky is not assured victory in any bidding war for the fifth terrestrial channel. Despite it being loss-making, the Guardian says ITV, US conglom Time Warner and ‘Big Brother’ makers Endemol may all also bid.
