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.
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.
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.