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Wednesday, February 6, 2013

Liberty Global CEO says won't change Virgin Media strategy, (NASDAQ: LBTYA)

Liberty Global won't change Virgin Media's strategy on network roll-out and content if its deal to purchase the British cable group goes through, Liberty's chief executive said on Wednesday. The $15.75 billion deal was "compelling" for both sets of shareholders, said Mike Fries, Liberty's chief executive in a call with journalists on Wednesday.He said Liberty would continue to invest in Virgin's broadband network.Virgin Media CEO Neil Berkett said he would step down after the deal closed.John Malone's Liberty Global struck a deal late on Tuesday to buy Virgin Media , a move that would put the U.S. billionaire up against old rival Rupert Murdoch. 

Liberty Global, Inc. (LGI) is an international provider of video, broadband Internet and telephony services, with broadband communications and/or direct-to-home satellite (DTH) operations, As of December 31, 2011, the Company was serving 19. Shares of LBTYA fell by 2.27% or $-1.58/share to $67.88. In the past year, the shares have traded as low as $44.87 and as high as $70.65. On average, 1445250 shares of LBTYA exchange hands on a given day and today's volume is recorded at 6792729.