British Sky Broadcasting and Virgin Media yesterday announced Sky has completed the acquisition of its rival’s television unit VMtv, following regulatory approval in Ireland. VMtv has now been re-named the Living TV Group.
Sky has paid Virgin Media an initial £105m, with up to £55m extra to be paid after it gains UK regulatory clearance.
The channels bought by Sky include Living, Challenge, Bravo and Virgin1 and their related websites. Sky will rebrand Virgin1 before it is relaunched.