Shareholders Approve Liberty Global’s Virgin Media Acquisition

DENVER: Liberty Global has now received all the necessary shareholder approvals, regulatory approvals and other customary closing conditions to complete its acquisition of Virgin Media.

The stock and cash merger is valued at $24 billion.

Mike Fries, the president and CEO of Liberty Global, said, “This is a great day for customers, employees and shareholders of both Liberty Global and Virgin Media. Together we now provide over 47 million video, voice and broadband services to 25 million customers located principally in 12 European countries. With superior network capacity, the fastest broadband speeds and innovative digital TV platforms, we’ve never been more excited about the growth potential and strategic direction of our business. Virgin Media will continue to thrive under the leadership of Tom Mockridge who starts as CEO today, with the support of a fantastic management team which includes both Liberty Global and Virgin Media executives.”

Tom Mockridge, CEO of Virgin Media, added, “Virgin Media has become one of the U.K.’s most powerful media brands thanks to both the loyalty of its customers and the energy of its employees. I am fortunate to be joining the company at this important inflection point in its development, and look forward to working closely with Mike and the broader Liberty Global team to deliver cutting-edge products and services that excite and inspire our customers.”