Virgin confirms takeover talks with Liberty Global

AP News
Posted: Feb 05, 2013 12:45 PM

LONDON (AP) — Virgin Media Inc. has confirmed that it is in talks with Liberty Global Inc. over a possible takeover by the U.S. cable television giant.

Liberty Global has pay-TV operations around the world and is the largest cable operator in most of its 11 European markets.

Virgin Media, the second biggest pay TV company in the U.K. after BSkyB, did not give any details in a brief statement Tuesday, only saying it would make a further announcement soon.

It is the second time that Liberty Global has looked at buying Virgin Media, in which Virgin boss Richard Branson still holds a minority stake.

Virgin Media was formed through the merger of NTL, Telewest and Virgin Mobile in 2006 and is listed in New York.