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Liberty Buys Virgin Media
$15.75 Billion Deal Completes Consolidation Cycle
by Karl Bode 08:32AM Wednesday Feb 06 2013
John Malone's Liberty Global has struck a $15.75 billion deal to acquire Virgin Media, in a deal the two claim will create the "world's leading broadband communications company." Reuters notes that including debt, the deal is estimated to be worth $23 billion. Virgin plans to retain the Virgin Media brand, and the company will serve more than 25 million customers across 14 countries including Germany, Belgium, Switzerland and the Netherlands. Malone, the king of cable consolidation, says Liberty will be migrating their corporate headquarters from Delaware to the UK, with current CEO Neil Berkett stepping down when the deal is concluded.

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squirrel83
cheers

join:2005-05-02
Astoria, NY

sweet times, good and bad

Good and bad things / / /

just hope my stock continues to carry the dividend

meeeeeeeeee

join:2003-07-13
Newburgh, NY

corporate headquarters from Delaware to the UK

Great! More jobs in the US go poof...

Kommie
Premium
join:2003-05-13
united state
kudos:3

Re: corporate headquarters from Delaware to the UK

I know to one of those evil socialist nations with 26days vacation and bank days for their employees.

anon anon

@charter.com
said by meeeeeeeeee:

Great! More jobs in the US go poof...

Somehow Obama will get blamed.

OSUGoose

join:2007-12-27
Columbus, OH

Re: corporate headquarters from Delaware to the UK

Sadly true, for no good reason. The guy chose to buy a Euro company, and instead of running a UK and US office is only going to run a UK one, maybe the DOJ will step in on that.
eco
Premium
join:2001-11-28
Wilmington, DE

3 edits
It should really say "incorporated", not corporate headquarters. Liberty will still be run out of Colorado, not Delaware. Delaware was just the state it was incorporated in, like most of the Fortune 500. They aren't actually based here in Delaware and likely had no employees here. Place of incorporation is just a scheme to save on taxes.

"Liberty Global's Englewood, Colo., headquarters and main U.S. offices will remain in place, and its shares will continue to trade on the Nasdaq Stock Market. But the company will change its legal headquarters to the U.K. by becoming a subsidiary of a new U.K.-based holding company, which Fries said will give it more strategic and financial flexibility."
Sounds like they probably want to buy more European companies and being legally an EU based company will make it easier.

meeeeeeeeee

join:2003-07-13
Newburgh, NY

Re: corporate headquarters from Delaware to the UK

Thanks... THAT news brightens up my day. Might even lead to MORE jobs in Colorado. We just have to stop hemorrhaging jobs to ANY OTHER country.
funny

join:2010-12-22

Re: corporate headquarters from Delaware to the UK

said by meeeeeeeeee:

Thanks... THAT news brightens up my day. Might even lead to MORE jobs in Colorado. We just have to stop hemorrhaging jobs to ANY OTHER country.

good luck with that
how long are your copyrights and patents again?
nvm im about to get sued cause someone said this 5 minutes ago.
funny

join:2010-12-22
said by meeeeeeeeee:

Great! More jobs in the US go poof...

you deserve it in your support a patents and copyrights

meeeeeeeeee

join:2003-07-13
Newburgh, NY

Re: corporate headquarters from Delaware to the UK

said by funny:

said by meeeeeeeeee:

Great! More jobs in the US go poof...

you deserve it in your support a patents and copyrights

said by funny:

said by meeeeeeeeee:

Great! More jobs in the US go poof...

you deserve it in your support a patents and copyrights

Amerika (The land of the selfish and greedy) deserves it on so many points, but I am still an American ( a minority) that remembers how and why this was once a GREAT country and dreams of it returning to be that way again some day.
--
"when the people have suffered many abuses under the control of a totalitarian leader, they not only have the right but the duty to overthrow that government." - The U.S. Declaration of Independence
funny

join:2010-12-22

Re: corporate headquarters from Delaware to the UK

said by meeeeeeeeee:

said by funny:

said by meeeeeeeeee:

Great! More jobs in the US go poof...

you deserve it in your support a patents and copyrights

said by funny:

said by meeeeeeeeee:

Great! More jobs in the US go poof...

you deserve it in your support a patents and copyrights

Amerika (The land of the selfish and greedy) deserves it on so many points, but I am still an American ( a minority) that remembers how and why this was once a GREAT country and dreams of it returning to be that way again some day.

as a canuck north a ya
i say good luck cause when you were that way you speak of was prolly what 1945 after the war and its been a slow slide into facism ever since.

i hope someone invents opensource time travel ill go back and bring the founding fathers here at this time and then take them back....
what ya bet you get a major rewrite of that lil paper you all hold dear and stuff works out FAR different.

ohreally

@claranet.co.uk
said by meeeeeeeeee:

Great! More jobs in the US go poof...

Their operational HQ was never in the US, they have an HQ in Delaware because they're one of those dodgy Delaware corporations.

Their real HQ is in the UK.

I'm sure there wouldn't be many jobs lost, and let's be honest, the net flow of jobs in recent years is to the US from the UK, not the other way around.

meeeeeeeeee

join:2003-07-13
Newburgh, NY

Re: corporate headquarters from Delaware to the UK

said by ohreally :

I'm sure there wouldn't be many jobs lost, and let's be honest, the net flow of jobs in recent years is to the US from the UK, not the other way around.

And we really appreciated the five you sent us last year
--
"when the people have suffered many abuses under the control of a totalitarian leader, they not only have the right but the duty to overthrow that government." - The U.S. Declaration of Independence
tdouglas22

join:2001-09-25
Memphis, TN

In regards to job loss.....

We can cry all day about jobs being lost.... but the truth is that the only thing that will solve any problem is for people to focus on new jobs being created.
funny

join:2010-12-22

Re: In regards to job loss.....

said by tdouglas22:

We can cry all day about jobs being lost.... but the truth is that the only thing that will solve any problem is for people to focus on new jobs being created.

not everyone is smart enough to learn or have patience for pc programming and work on pcs.
ask a musician if they'd like to be replaced by a computer and then what will they do act? grpahics are nealry good enough now we don't need actors either
just what jobs are you gonna do now that robots are nearing that time when all jobs can be done by them
WHOM WILL FEED AND HOUSE YOU

haha this is where capitalism collapses my dear friends
and becomes facism of an armed police state then has a rebellion and the cycle starts over.
welcome to humanity and how everything is a circle.
ALL that is going on now is meant to slow this circles end.
first we had gm and car workers cry about robots
NOW we have actors not needed because of animation
NOW we dont need musicians anyone can be one.
NOW we have new robots that can talk move around and do all yoru home work
we have robots that can play soccer and sports
whats left to make me a buck....and they the rich people know it
and yet they keep pushing wages to zero
to make short term cash and in so doing hasten the end of this system.

ask yourselves why patents exist so long and copyrights so long and its not about money its to slow you inventing more stuff that speeds this cycle of end up.
tdouglas22

join:2001-09-25
Memphis, TN

Re: In regards to job loss.....

If you're worried about the jobs that leave, you'll never see the jobs that come in.

If you don't have the patience to learn a new skill or develop the ones you have, then there is no hope for you and you might as well give up.

That's what most people think AND do anyway.