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London ad sources expect a European marketing onslaught from a combined Liberty Global-Virgin Media company after Liberty founder John Malone announced the cable giant’s $16 billion agreed takeover of the U.K. telecom firm.
The Virgin Media brand will continue after Malone this morning vowed to retain it in the U.K. Sir Richard Branson, Virgin Media’s part owner, is expected to gain $316 million for his stake in the company.
The deal indirectly involves a third telecom tycoon, in that it is a cornerstone of Malone’s vision to create Europe’s largest broadband and pay TV provider to challenge longtime rival Rupert Murdoch and his Sky brand’s dominance of that market.
Branson’s shares in Virgin Media, comprising under 3 percent of the company, are a legacy of the 2006 U.K.
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