The plans of billionaire cable mogul John Malone — who owns Virgin Media cable and broadband, as well as hotels in Ireland — for a $6.4bn (€5.7bn) sale of UPC Switzerland fell apart after would-be purchaser Sunrise Communications concluded its shareholders won’t support the move.
US cable channel Discovery has agreed to buy Scripps Networks, the No 4 most watched US cable network, for $11.9 (€10bn) in a bet that uniting ownership of cable channels like Animal Planet and HGTV will help the company adapt to the changing television landscape.
When Carolyn McCall left the media world for the airline industry seven years ago, newspaper publishers were under siege from a shift online that sucked away advertising revenue. Now she’s coming back to run ITV, just as the battleground has moved to television.
The owner of UPC in Ireland, Liberty Global, has reported a decline in second-quarter revenue as its Dutch unit Ziggo lost customers, highlighting the difficulties for billionaire John Malone’s European cable company in its hunt for growth.
Charter Communications, controlled by cable industry pioneer John Malone, has offered to buy Time Warner Cable for $56bn (€52bn), seeking to combine the number two and three US cable operators to compete against market leader Comcast.