How Much Richard Branson Makes From Virgin Media’s Purchase

by Christopher Freeburn | February 6, 2013 11:53 am

How Much Richard Branson Makes From Virgin Media’s Purchase

virginmedialogo 300x212 How Much Richard Branson Makes From Virgin Media's Purchase[1]Liberty Global‘s (NASDAQ:LBTYA[2]) purchase of Virgin Media (NASDAQ:VMED[3])¬†will add about $316 million[4] to British billionaire Richard Branson’s already considerable fortune.

Branson formed Virgin Media in 2006 through the combination of Virgin Mobile U.K., NTL and Telewest. He amassed a $5 billion fortune through a corporate empire launched from a London music shop, Bloomberg noted.

Virgin Media will be acquired for about $16 billion in cash and stock[5]. Including debt, the transaction has a total value of $23.3 billion.

In December, Delta Air Lines (NYSE:DAL[6]) paid $360 million for a 49% stake in Branson’s Virgin Atlantic airline[7].

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/02/virginmedialogo.jpg
  2. LBTYA: http://studio-5.financialcontent.com/investplace/quote?Symbol=LBTYA
  3. VMED: http://studio-5.financialcontent.com/investplace/quote?Symbol=VMED
  4. will add about $316 million: http://www.sfgate.com/business/bloomberg/article/Branson-Set-to-Reap-316-Million-Payday-in-Sale-4255371.php
  5. acquired for about $16 billion in cash and stock: http://investorplace.com/2013/02/liberty-global-to-buy-virgin-media-for-16b/
  6. DAL: http://studio-5.financialcontent.com/investplace/quote?Symbol=DAL
  7. in Branson’s Virgin Atlantic airline: http://investorplace.com/2012/12/delta-buys-big-stake-in-virgin-atlantic/

Source URL: http://investorplace.com/2013/02/how-much-richard-branson-makes-from-virgin-medias-purchase/
Short URL: http://invstplc.com/1nvD1Zs