Virgin Media, part owned by Oxfordshire's Richard Branson, is to be sold to US tycoon John Malone's Liberty Global in a deal worth more than twelve million pounds.
The company supplies almost five million households in the UK. Richard Branson will reportedly make around $316 million from the buyout.
Today Virgin Atlantic Airways said that Craig Kreeger, 53, who has had a 27-year career at American Airlines, would take over as chief executive when Steve Ridgway retires in spring this year. Mr Ridgway has had 23 years at Virgin and became chief executive in 2001.
Sir Richard Branson is President of Virgin. He said - "We are thrilled to welcome Craig to Virgin Atlantic. He is the right person to succeed Steve Ridgway at this dynamic and challenging time for our airline.
"We believe Craig has the experience and passion to drive Virgin Atlantic forward and capitalise on the opportunities created by our new venture with Delta Airlines."
The first domestic services to be run by Sir Richard Branson's airline Virgin Atlantic are among a number of new routes being flown by UK and overseas carriers from Britain in 2013.
Among the routes announced is travel from Manston Airport in Kent with KLM/Air France.
Virgin will be operating a total of 24 domestic flights a day out of Heathrow starting from the beginning of April. The airline will be flying six daily returns to Edinburgh as well as three daily returns to Aberdeen and to Manchester.
Also, from April, a third daily flight between Heathrow and Atlanta, USA, will be operated by American carrier Delta - the airline waiting for regulatory clearance to take a 49% stake in Virgin Atlantic.
From the end of March, British Airways will begin flying from Gatwick to Colombo in Sri Lanka and will also start Gatwick services to the Canary Islands' destinations of Lanzarote and Tenerife.
BA will also begin flights between Heathrow and Alicante in Spain and Palma in Majorca in Spring 2013.
From April 2, KLM/Air France will start twice-daily services between Manston airport in Kent and Amsterdam's Schipol airport.
The announcement, made in November 2012, was greeted enthusiastically by the area's two Conservative MPs Sir Roger Gale (Thanet North) and Laura Sandys (Thanet South).
"This move really does connect Kent with the rest of the world," said Sir Roger, while Ms Sandys described the new route as making the area "a more attractive place to invest".
Air travellers heading for the Far East from Cardiff will be able to get to Fukuoka when KLM starts flights to the Japanese city, via Amsterdam, in the Spring.
The three-times-a-week service will be the third KLM operates to Japan from Cardiff after Tokyo and Osaka.
Among new easyJet routes in 2013 is Manchester to Moscow, with the low-fare carrier starting four-flights-a-week services on March 28.
The airline, which is also starting Gatwick-Moscow services in 2013, hopes to carry around 60,000 passengers in the first year of Manchester-Moscow flights.
EasyJet is also starting, from June 20, thrice-weekly services between Southend in Essex and Newquay in Cornwall.
Just a few days later, on July 4, easyJet starts three-times-a-week flights between Liverpool and Newquay.
Then, on July 5, easyJet commences a twice-weekly service between Liverpool and the French city of Nantes.
Delta Air Lines and Virgin Atlantic Airways have reached an agreement for a new joint venture that will create an expanded trans-Atlantic network. The companies say it will enhance competition between the UK and North America, offering greater benefits for customers.
Delta will invest $360 million in Virgin Atlantic, acquiring a 49 per cent stake currently held by Singapore Airlines. Virgin Group and Sir Richard Branson will retain the majority 51 per cent stake and Virgin Atlantic Airways will retain its brand and operating certificate.
Sir Richard taking part in a colourful parade in Mumbai to mark the start of a Virgin Atlantic route from Heathrow.
The tycoon from Oxfordshire is leading a delegation to India to boost trade between India and the UK.
Hundreds of local media turned out to welcome him.
Virgin Atlantic has had a tough year, with rising fuel costs and increased competition from rivals. It recently reported losses of £80m.Read the full story ›
Mr Ridgway insisted that air travel was a "different market" from rail services between Manchester and London. The airline will operate three daily flights to Manchester using Airbus A319 aircraft from March 31 next year.
Flights between Heathrow and the North West will begin next spring using leased aircraft, Mr Ridgway said. Mr Ridgway insisted that air travel was a "different market" from rail services between Manchester and London.
"Virgin Atlantic has obviously provided great competition over the years internationally on the long-haul routes and this is about redressing that as part of the process of making sure that BA doesn't become a monopolist on all the routes bmi used to fly."
ITV Meridian reports exclusively on how experts from the South strip-out and re-fit Virgin Atlantic Airways Boeing 747 fleet.Read the full story ›