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Virgin Media sold for £10bn

A US cable firm has confirmed that it will buy Virgin Media in a deal worth £10 billion. Liberty Global said the agreement would create "the world's leading broadband communications company".

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US billionaire snaps up Virgin Media

Virgin Media's new owner, Liberty Global, is controlled by John Malone who has been trying to seal a deal for more than a decade:

  • Virgin Media was created by the merger of cable operators NTL, Telewest and Virgin Mobile in 2006
  • Malone began buying up stock in Telewest and tried to acquire NTL back in 2000
  • The deal marks his largest European acquisition
  • Liberty Global already ranks as the largest cable operator in Europe with 18.4 million subscribers

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