Sky and Virgin Media “close to deal” on channels

News Corp-backed BSkyB is close to sealing a deal for the channels operated by its pay TV counterpart Virgin Media, according to UK press reports.

These said that Sky would pay between £150m (€176m) and £160m for the channels business, which comprises Virgin1, Living, Bravo and Challenge. The deal is set to be done this week or next, the reports said.