LONDON--Former News Corp. (NWS) executive Tom Mockridge is to
take the top job at U.K. cable-television and Internet company
Virgin Media Inc. (VMED) once Liberty Global Inc. (LBTYA) wraps up
its $16 billion takeover of the firm early next month.
Mr. Mockridge, a New Zealander, is a former senior manager at
media conglomerate News Corp., having held various posts over the
past two decades, including chief executive of its European TV
operations, CEO of Sky Italia, and most recently head of News
International in the U.K.
News Corp. also owns Dow Jones & Co., publisher of The Wall
Street Journal.
Mr. Mockridge, 57, takes over from fellow New Zealander Neil
Berkett, 56, who signaled his departure when the deal was announced
in February.
Englewood, Colo.-based Liberty Global operates separately from
its sister company, U.S. content business Liberty Media Corp., and
is the largest cable operator in Europe. The company has been on a
spending spree in recent years, buying German cable provider Kabel
Baden-Wurttemberg for roughly $4.5 billion in 2011. It also owns
KBW's larger rival, Unitymedia and Belgian cable provider Telenet
Group Holding N.V.
Virgin Media is the U.K.'s No. 2 pay-TV operator with close to 5
million customers, behind British Sky Broadcasting Group PLC, which
has more than 10 million customers. The Virgin Media deal gives the
company a pan-European footprint and creates a strong challenger to
BSkyB, pitting telecommunications billionaire and Liberty Global
Chairman John Malone against his former business partner, News
Corp. Chairman Rupert Murdoch. BSkyB counts News Corp. as its
biggest shareholder with a 39.1% stake.
Mr. Mockridge brings Virgin Media a breadth of experience in the
pay-TV industry, both in the U.K. and throughout Europe, Liberty
Global President and CEO Mike Fries said in a statement.
Mr. Mockridge told The Wall Street Journal that Virgin Media,
under Mr. Berkett's leadership, has done a great job building its
business strategy and ruled out any major changes. "From the
outside looking in, these guys have done a very good job and there
will be a lot of momentum and a lot of things to continue
with."
"We think the strategy thus far is the right one and I would be
surprised if it would change materially," Mr. Fries said on a joint
telephone call with Mr. Mockridge. He expects the takeover to be
completed a few days after two separate shareholder meetings on
June 3 and 4.
Mr. Mockridge will report to Mr. Fries, as well as to a newly
formed operating committee composed of Mr. Fries, Diederik Karsten,
executive vice president of European broadband operations, and
Balan Nair, executive vice president and chief technology officer.
No contract terms were disclosed.
Write to Lilly Vitorovich at lilly.vitorovich@dowjones.com
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