Three in line for VMtv

UK cable operator Virgin Media has drawn up a shortlist of three potential buyers for its VMtv content arm, according to the Times newspaper.

The UK’s Channel 4 and BSkyB, along with Time Warner, made it through to the second round of the auction for VMtv, which includes the Bravo and Living channels. Virgin Media put its content business, which also includes a share in the UKTV joint-venture, up for sale in March. The units are expected to fetch the operator £400m (€445m), with sources suggesting that Virgin Media could expect to gain more than £80m from the sale of VMtv.