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Discovery and Scripps looking at UKTV stake

International channel operators Discovery Communications and Scripps Networks are reportedly among the final bidders for Virgin Media’s 50% stake in British pay TV division UKTV.

The deadline for bids was set for last month but has reportedly been extended. UK cable operator Virgin Media is looking to receive around £350 million (€413 million) for its stake in the broadcaster, which operates a raft of channels including Dave, Gold, Good Food and Watch. The company is a joint venture with BBC Worldwide, the commercial arm of the British public broadcaster. BBC Worldwide, which also has first refusal over the shares and is thought to be looking to increase its stake, meaning that any new partner would be a minority shareholder.