Sky completes Virgin TV purchase

BSkyB has completed the acquisition of Virgin Media Television (VMTV) after receiving regulatory approval in the Republic of Ireland.

The satellite broadcaster, which has acquired VMTV’s channels including Bravo, Living and Virgin1, said that it will rename VMTV as Living TV Group. BSkyB paid Virgin Media an initial £105 million (E125m) and up to a further £55 million if and when the deal achieves regulatory clearance in the UK.

 Sky reiterated that it has not licensed the Virgin brand and intends to rebrand Virgin1 “in due course”.

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