LONDON: John Malone's Liberty Global struck a deal on Tuesday to buy British cable group Virgin Media for about US$15.75 billion in stock and cash, a move that would put the U.S. billionaire up against old rival Rupert Murdoch.
The companies announced the deal in a statement late on Tuesday, after Virgin Media, the second-biggest pay-TV provider in Britain behind Murdoch's satellite group BSkyB, confirmed Liberty's approach earlier in the day.
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