US Media Giant Buying Virgin Media as Birthday Present to Self

By Gary Cutlack on at

US billionaire John Malone, head of international cable TV company Liberty Global, is looking to buy Virgin Media. The now-profitable TV and broadband company is said to be valued at around the £15bn mark.

Things are looking rosy for Virgin elsewhere, too. It's latest set of financial numbers show it took £699m in revenues in the year ending last December, up from 2011's £540m. It also managed to increase its customer base by 88,700 in the last year, as speed-crazed internet users signed up for its ever-fatter cable-based internet pipes.

According to the FT, Malone sees himself as something of a rival to Sky boss and unofficial king of the UK TV supply chain Rupert Murdoch, so here's hoping we see some super-aggressive price-cutting action once the deal's done. [FT via BBC]