Liberty Global Completes Acquisition of Virgin Media

Denver, Colo., June 10, 2013--Liberty Global plc has completed its acquisition of British cable operator Virgin Media Inc. in a stock and cash merger valued at approximately US$ 24 billion (€18.26 billion) following shareholder approvals, regulatory approvals and other customary closing conditions.

Mike Fries, President and CEO of Liberty Global, said the combined company now provides over 47 million video, voice and broadband services to 25 million customers located principally in 12 European countries.

“This is a great day for customers, employees and shareholders of both Liberty Global and Virgin Media,” Fries said. “With superior network capacity, the fastest broadband speeds and innovative digital TV platforms, we've never been more excited about the growth potential and strategic direction of our business.”

Virgin Media also announced the appointment of Tom Mockridge who took over as CEO last week. Last month, Liberty Global announced the appointment of Mockridge, former News Corp. exec, to run the company as CEO, replacing former topper Neil Berkett.

As a result of the acquisition, Liberty Global, a public limited company organized under the laws of England, has now become a new public parent company of Liberty Global, Inc. and Virgin Media. Liberty Global’s Class A, Class B and Class C ordinary shares will begin trading on the NASDAQ Global Select Market on June 10, 2013 under the same symbols: LBTYA, LBTYB and LBTYK.

Liberty Global reported revenue of US$10.3 billion and net income of US$ 387 million in 2012. The company is one of the largest international cable provider with operations in 14 countries. Liberty Global’s consumer brands include Virgin Media, UPC, Unitymedia, Kabel BW, Telenet and VTR. Its operations also include Chellomedia, its content division, Liberty Global Business Services, a commercial division, and Liberty Global Ventures, its investment fund.