UPDATED 0:25 AM EST, February 6, 2013
ENGLEWOOD, Colo. (AP) — Cable TV operator Liberty Global Inc. is buying U.K.-based Virgin Media Inc. in a deal valued at $16 billion.
The two companies announced the deal late Tuesday, saying it will create a broadband communications company covering 47 million homes and with 25 million customers in 14 countries.
Liberty Global is owned by media mogul John Malone. It has pay-TV operations around the world and is the largest cable operator in most of its 11 European markets.
