'Sky buys Virgin Media Television for up to GBP 160 million'.

(From DMEurope)

DMEUROPE-7 June 2010-'Sky buys Virgin Media Television for up to GBP 160 million' (C)2010 DMeurope.com (http://www.dmeurope.com) & DME Ltd. All rights reserved.

British Sky Broadcasting and Virgin Media have reached an agreement for the sale of Virgin Media Television (VMtv) to Sky. They have also signed a number of agreements providing for the carriage of certain Sky standard and HD channels. Sky will acquire VMtv for a total consideration of up to GBP 160 million in cash, with GBP 105 million paid on completion and the remainder paid following the regulatory process. The acquisition will expand Sky's portfolio of basic pay TV channels and …