John Malone's Liberty Eyes Challenge to Rupert Murdoch's Global Media Empire Bloomberg
John Malone's Liberty Global is in discussions with Virgin Media for a deal to expand to Europe, a move that would challenge fellow billionaire Rupert Murdoch and his British Sky Broadcasting Group, reports Bloomberg.
Virgin Media, a U.K. cable-television provider with a market value of more than $10 billion, said it's in discussions with Liberty "concerning a possible transaction," the story says. Virgin didn't provide details.
Liberty Global would add Virgin Media's almost 5 million cable customers. Malone has been seeking growth outside the U.S., and runs pay-TV providers in several European countries.
BSkyB had almost 11 million subscribers at the end of 2012, the story notes. It's controlled by News Corp. and is the largest U.K. pay-TV provider.