BSkyB bids for Virgin Media channels

UK pay-TV operator BSkyB has offered to pay £160m (€183m) for cable operator Virgin Media’s portfolio of seven TV channels, according to a report in the Financial Times.

The report cited sources participating in the auction as saying that Sky had outbid rivals by about 60%, leaving Virgin Media in the difficult position of being forced to consider an offer to sell its channels to its bitter rival in the UK pay-TV market.