Virgin Media is selling its TV channels to Sky, to focus on the telecoms side of its business.
Sky is paying £160 million cash for the channels and will no longer pay carriage fees for Virgin channels to appear on its TV services.
The company has also secured a new agreement with Virgin that safeguards the appearance of Sky’s basic channel line-up on Virgin’s Cable V service. Sky’s HD channels may also appear on Virgin Cable, for an “incremental wholesale fee”. And Virgin will tout Sky content on its on-demand TV service.
The deal is more or less in the bag – it needs a thumbs up from Irish regulators to complete.
Register
