Virgin back to selling all content?
Virgin Media is delaying the sale of its 50 per cent stake in UKTV and instead could restart the sale of its entire content division, which originally began in April. The group's content operations comprise its 50 per cent stake in UKTV and VMtv, owner of channels Living and Bravo.
In April it began the disposal of the content operations, issuing a sales memorandum for VMtv. No sale has been completed though it has already sold its TV shopping arm, Sit-up TV, to German investment vehicle Aurelius.
However there has been no sales memorandum for UKTV. Virgin Media values its 50 per cent share in UKTV at up to £353.5 million (E387m), according to its 2008 annual report. It is understood Virgin Media has been attempting to sell its UKTV stake to BBC Worldwide, which owns the other 50 per cent stake and could veto a sale to a third party.
Now it is understood Virgin Media could restart the sale of its whole content division by selling its 50 per cent UKTV stake and VMtv together as one asset.