Scripps Networks Interactive Buys Virgin Media Stake In UKTV

by Lisa Levin, Benzinga Editor

August 15, 2011 7:51 AM | 23 seconds read | Make a Comment

Scripps Networks Interactive Inc

SNI

announced its plans to buy Virgin Media Inc's

VMED

50% stake in UKTV for about GBP239 million. Scripps reported that it will also pay around GBP100 million to buy the outstanding preferred stock and debt owed by UKTV to Virgin Media. SNI shares gained 1.26% to close at $42.68 on Friday, while VMED shares gained 0.30% to close at $23.64 on Friday.

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Posted In: News M&A Broadcasting & Cable TV Consumer Discretionary merger and acquisition

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