Scripps Networks Interactive Buys Virgin Media Stake In UKTV

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Scripps Networks Interactive Inc (NYSE: SNI) announced its plans to buy Virgin Media Inc's (NASDAQ: 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.

27% profits every 20 days?

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