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Sky snaps up Virgin TV channels
You TV, me Telco
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.