Virgin Media sells its UKTV stake

{jcomments off}Virgin Media has sold its 50% stake in UKTV to an American television company.

Virgin Media jointly owned the UKTV Network of channels with BBC Worldwide since 1997. Over the years UKTV has expanded from being just UK Gold to 10 channels covering a diverse range of programming. Recently the channels all underwent re-branding with Dave becoming by far the most successful re-branding of the channels. Other channels within UKTV include Yesterday, Watch and Alibi.

Media Guardian reports that Virgin Media has now sold its 50% stake in UKTV to the American television company Scripps Network, the deal is said to be worth £339m. In the UK the Scripps Network launched The Food Network in 2009 in partnership with Chello Zone. In the US the company owns The Cooking Channel and The DIY Network.