The Office of Fair Trading (OFT) is to investigate BSkyB’s acquisition of Virgin Media’s television business.
VMtv became the Living TV Group following regulatory clearance in the Republic of Ireland. However, the OFT will now consider whether a merger situation has been created under the Enterprise Act 2002. The possibility remains of a reference to the Competition Commission.
An initial £105 million (€126.23) is being paid by Sky to Virgin Media with a further £55 million due assuming UK regulatory clearance is forthcoming.