[Satellite TODAY 06-04-10] BSkyB has acquired a number of TV channels owned by its cable rival, Virgin Media, for 160 million British pounds ($234.9 million) in cash with 105 million pounds ($153.9 million) paid on completion, BSkyB announced June 4.
    The transaction will see BSkyB acquire Virgin’s VMtv programming and assume responsibility for selling and advertising in January. BSkyB said the move aims to expand Sky’s portfolio of basic pay TV channels and eliminate the carriage fees it currently pays for distributing VMtv channels on its TV services.
    BSkyB also negotiated a new carriage deal, which will see Virgin Media carry some of BSkyB’s blue chip HD channels for the first time, with the option of carrying any of Sky’s basic HD channels, Sky Sports HD 1 and Sky Sports HD 2, and all Sky Movies HD channels.
    “VMtv is an attractive investment opportunity which complements our existing content business and delivers strategic and financial benefits. We are pleased that, through commercial negotiation, we have been able to ensure wide distribution of our channels to a growing pay TV universe,” BSkyB CEO Jeremy Darroch said in a statement.