VMtv Sell-off Looks More Likely As CEO Wall Exits
This story was written by Patrick Smith.
The speculation has rolled on for months that Virgin Media (NSDQ: VMED) will try to sell its content-making VMtv unit, but it looks increasingly likely now that the company has confirmed VMtv's CEO Malcolm Wall is to leave the company after three years. What's more, Times Online - which is now getting its turn in reporting the sell-off speculation - reports UBS has been brought in to handle the sale, with a hoped-for price tag of 500 million. VMtv operates Virgin's own channels (Trouble, Bravo, Living, Challenge and Virgin 1), Sit-Up auction channels and half of the UKTV JV with BBC Worldwide. Full story on paidContentUK...
By Patrick Smith