Scripps Networks Interactive (SNI) Acquires Virgin Media's 50% Stake in UKTV
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Scripps Networks Interactive Inc. (NYSE: SNI) announced plans to acquire Virgin Media Inc. (NASDAQ: VMED) stake in UKTV, one of the United Kingdom’s leading multi-channel television programming companies.
Scripps Networks Interactive will pay approximately £239 million to purchase Virgin Media's 50-percent common equity interest in the UKTV partnership and also will pay about £100 million to acquire the outstanding preferred stock and debt owed by UKTV to Virgin Media.
The other 50-percent owner of UKTV is British Broadcasting Corp. (BBC).
Scripps Networks Interactive will pay approximately £239 million to purchase Virgin Media's 50-percent common equity interest in the UKTV partnership and also will pay about £100 million to acquire the outstanding preferred stock and debt owed by UKTV to Virgin Media.
The other 50-percent owner of UKTV is British Broadcasting Corp. (BBC).
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