Since Neil Berkett became Virgin Media Inc.’s chief executive officer in 2008, he’s tripled the company’s share price and attracted a $16 billion takeover bid from billionaire John Malone. Now he’s on his way out.
John Malone’s Liberty Global Inc. is in talks for a deal with U.K.’s Virgin Media Inc., targeting a cable-television provider worth more than $10 billion to challenge Rupert Murdoch in Europe’s biggest pay-TV market.
Virgin Media Inc., the U.K. cable-TV provider being bought by Liberty Global Inc., plans to make Web services such as Netflix a more integral part of its offering rather than fighting them, its chief executive officer said.
As British Sky Broadcasting Group Plc and BT Group Plc duke it out over sports content and rights in one of Europe’s most competitive pay-TV markets, Virgin Media Inc. is counting on a different edge: speed.
Virgin Media, the U.K. pay-TV operator bought by Liberty Global Plc this year, is cutting as many as 600 mid-to-senior-level jobs to eliminate duplicate roles across the parent company’s European business.