Sky Completes VMtv Purchase

LONDON: BSkyB has completed its acquisition of Virgin Media Television (VMtv), which has now been renamed Living TV Group.

The deal with Virgin Media brings to the Sky fold LIVING, LIVINGit, Challenge, Challenge Jackpot, Bravo, Bravo 2 and Virgin1 and their related websites. Virgin1 is to be renamed in due course, as Sky has not licensed the Virgin brand name. Sky has paid Virgin Media an initial £105 million. Up to an additional £55 million will be paid on U.K. regulatory clearance.