Just a month after selling its content division VMTV to BSkyB, Virgin Media is all set to sell its 50% stake in UKTV. The unit is a profitable broadcaster but now Virgin is in mood to concentrate completely on core verticals of its business such as Cable services, telephony and distribution of TV content.
In the bouquet of UKTV there are channels such as Gold, Good Food, Watch, Blighty, Yesterday, Eden and Dave. In the second quarter of this year, the company received income of £7.1m from UKTV.
Virgin is believed to be working on the sale of UKTV, a 50:50 joint venture with BBC Worldwide, which Virgin values at a total of about £700m – £350m for its stake.