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Virgin Media news

Liberty Global has completed its £15 billion takeover of UK broadband provider Virgin Media.

The US cable giant has received shareholder and regulatory approvals, and met all other customary closing conditions for the acquisition.

Virgin Media becomes part of the wider Liberty Global group, which has operations in 14 countries. However, the broadband provider will retain its existing UK branding.

Mike Fries, President and Chief Executive of Liberty Global, explained that the multinational now provides video, voice and broadband services to 25 million customers worldwide.

"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," he stated.

Tom Mockridge has assumed office as the new Chief Executive at Virgin Media, replacing Neil Berkett at the head of the firm.

Mr Mockridge claimed the service provider has become "one of the UK’s most powerful media brands" thanks to both the loyalty of its customers and the energy of its employees.

He said he was "fortunate" to be joining the company at an "important inflection point in its development", and looks forward to working closely with the broader Liberty Global team to deliver "cutting-edge products and services that excite and inspire customers".

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