Virgin Media tidies for sale
March 20, 2009
Virgin Media TV is to close its teenage pay-TV channel Trouble within months as Virgin gets ready to off-load its content business. Reports say it plans to close Trouble and launch a new version of its popular Living channel in its place.
Virgin Media has appointed UBS to sell its content division for sale and hopes to raise £500m (E541m). The Living portfolio already occupies four EPG slots on the Sky and Virgin Media platforms: Living, Living+1, Living2 and Living2+1. Living2 will rebrand later this year and be given an as-yet undisclosed new name and identity.
In February, Virgin Media TV closed down Trouble+1 and in its place launched Living 2+1 as it was believed such an offering would generate a higher level of commercial impacts.