Virgin to sell its half of UKTV

Virgin Media BBCIt appears that Virgin Media will be selling off approximately half its stake in UKTV which it jointly owns with BBC World.

UKTV boasts of channels such as Dave and Gold, which broadcasts comedies which are re-runs and other classic shows. It also airs ten channels in total, with a list of channels such as Alibi, Home, Good Food, Blighty and Yesterday.

Virgin is aiming to increase the stakes by £350 million offering almost a half of its business. The report of Sunday Times states that the investment banking giants like UBS and Goldman Sachs are on jolt to push the sales across the channels.

BBC world has had its first dips which will help decide if UKTV wants to take the trouble all by itself or otherwise it has to bear the grunts of potential buyers who have Sky.