Virgin Media Plc To Be Bought By Liberty Media

Liberty Global Inc. (NASDAQ:LBTYA) (NASDAQ:LBTYB) has made a $23 billion offer for Virgin Media Inc. (NASDAQ:VMED), according to reports today. The deal will see shareholders of Virgin Media take 36% of the new group, and take $6 billion in cash. That cash will be extracted from Virgin Media itself, in a complicated financing arrangement. The news came on the back of Virgin Media’s earnings report.

This is the second largest acquisition deal that has been announced at Leibery Media in the new year. The company’s long running battle to take control at...