Sky completes Virgin Media TV deal

Sky has completed its acquisition of Virgin Media Television (VMtv) after getting the go ahead from regulatory authorities in the Republic Of Ireland.

Last month, the satellite broadcaster agreed a £160m deal with Virgin Media for the VMtv business, including the Living, Bravo and Challenge brands.

Sky has already paid £105m to Virgin Media for VMtv, with a further £55m payment due to follow if and when the deal gets clearance from regulators in the UK.

Under the agreement, Sky will acquire Living, LivingIt, Challenge, Challenge Jackpot, Bravo, Bravo 2 and Virgin1, along with all their related websites.

Sky has said that it will not licence the Virgin brand and will instead announce new channel branding for Virgin1 "in due course".

The satellite broadcaster has confirmed, though, that VMtv will be renamed the Living TV Group after the acquisition has been completed.

From January 2011, Sky Media will take over advertising duties across all the former VMtv channels from Virgin Media's existing sales operator IDS.

As part of the deal, Virgin Media will be able to offer Sky's high definition premium sport and movies channels to its cable TV customers.