Virgin Media Television
Virgin Media Television, the former content subsidiary of Virgin Media (formerly called Flextech), operated a number of wholly owned channels including Bravo, LIVING, Trouble and Challenge.
In June 2007 Virgin announced plans to launch a new television channel on Freeview and cable, replacing Ftn on Freeview. The new channel, "Virgin1" and "Virgin1+1", launched on 1 October 2007 and broadcasts a mix of British and American programming.
On 4 June 2010, BSkyB and Virgin Media announced that they had reached an agreement for the acquisition of Virgin Media Television by BSkyB. The companies have, in parallel, agreed to enter into a number of agreements providing for the carriage of certain Sky standard and high-definition (HD) channels. Sky acquired VMtv for a total consideration of up to £160 million in cash, with £105 million paid on completion and the remainder paid following the regulatory process. The acquisition expanded Sky's portfolio of basic pay TV channels and eliminated the carriage fees it previously paid for distributing VMtv channels on its TV services. New carriage agreements will secure wholesale distribution of Sky's basic channel line-up, including Sky1 and Sky Arts, and the newly acquired VMtv channels, on Virgin Media's cable TV service. For an incremental wholesale fee, Virgin Media will, for the first time, have the option of carrying any of Sky's basic HD channels, Sky Sports HD 1 and Sky Sports HD 2, and all Sky Movies HD channels. Virgin Media will make available through its on-demand TV service a range of content from Sky's basic and premium channels, including the newly acquired VMtv channels. Virgin Media will also have access to red button interactive sports coverage and the opportunity to deliver selected standard definition programming over the internet. Sky will assume responsibility for selling advertising for the newly acquired VMtv channels from January 2011. Completion of the agreements was conditional on obtaining merger control clearance in Ireland.
Virgin1 was also a part of the deal but was rebranded as Channel One on 3 September 2010, as the Virgin name was not licensed to Sky. The new carriage deals are understood to be for up to nine years. Previously the carriage deals tended to be struck every three years.
On 29 June 2010, the Irish Competition Authority cleared the proposed transaction. The parties proceeded after the Minister for Enterprise, Trade and Innovation did not direct the Authority to carry out a full investigation within 10 days of the date of the Authority’s decision.
On 13 July 2010, BSkyB and Virgin Media announced the completion of Sky's acquisition of Virgin Media Television (VMtv) following regulatory approval in Ireland. VMtv was then renamed the Living TV Group. In completing the acquisition, Sky paid Virgin Media an initial £105 million with up to an additional £55 million to be paid upon UK regulatory clearance.
On 20 July 2010, the Office of Fair Trading (OFT) announced they would review BSkyB's acquisition of Virgin Media Television to judge whether it posed any competition concerns in the UK. The OFT planned to investigate the deal to see whether it could constitute a qualifying merger under the Enterprise Act 2002. The watchdog invited interested parties from the industry to comment on the sale, including its potential impact on the pay-TV market. On 14 September 2010, The OFT decided not to refer BSkyB's takeover of Virgin Media's TV channels to the Competition Commission.
Read more about this topic: Virgin Media, History
Famous quotes containing the words virgin, media and/or television:
“The Virgin filled so enormous a space in the life and thought of the time that one stands now helpless before the mass of testimony to her direct action and constant presence in every moment and form of the illusion which men thought they thought their existence.”
—Henry Brooks Adams (1838–1918)
“The media no longer ask those who know something ... to share that knowledge with the public. Instead they ask those who know nothing to represent the ignorance of the public and, in so doing, to legitimate it.”
—Serge Daney (1944–1992)
“His [O.J. Simpson’s] supporters lined the freeway to cheer him on Friday and commentators talked about his tragedy. Did those people see the photographs of the crime scene and the great blackening pools of blood seeping into the sidewalk? Did battered women watch all this on television and realize more vividly than ever before that their lives were cheap and their pain inconsequential?”
—Anna Quindlen (b. 1952)