Deutsche Bank Comments on Sale at Virgin Media

Deutsche Bank has published a research report on Virgin Media VMED, covering the sale of the company's stake in UKTV. In the report, Deutsche Bank wrote, "Virgin Media announced this morning it has reached an agreement with USbased media company Scripps Networks Interactive (SNI) for the sale of VMED's 50% stake in broadcaster UKTV. SNI had first shown some interest in UKTV in October 2010. UKTV attracts 36 million viewers and owns popular channels such as Dave, Watch and Gold, which use the BBC's back catalogue of programmes. BBC is the owner of the remaining 50% stake." Deutsche Bank rated Virgin Media a Hold with a price target maintained at $1,825.00. Virgin Media closed Friday at $23.64.