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Pompano Beach, FL -- (SBWIRE) -- 02/05/2013 -- Reports confirm that John Malone's cable group, Liberty Global is in meetings with Virgin Media (NASDAQ:VMED) regarding a possible agreement with Richard Branson’s UK cable firm.
Virgin (VMED) assured that the both sides were discussing about a “possible deal”. The Financial Times announced that Liberty is bracing itself for a possible acquisition of Virgin, after BSkyB as the UK’s second largest pay-TV business.
Should VMED a Buy or Sell Now? Find Out Here
A takeover transaction would stand Mr Malone in direct rivalry with Media tycoon Rupert Murdoch, whose media empire possesses 39% stake of BSkyB. Both mens’ business interests quarreled a decade ago when Mr Murdoch's News Corp and Liberty Media contended for ownership of DirecTV Group, the biggest US satellite TV broadcaster.
Investors were enjoying the takeover rumor as Virgin Media (VMED) boosted up on Wall Street on Tuesday with positive change of more than 16% with volume of 21.5Million shares while average volume was 2.58 million.
At the current trading session, Virgin Media Inc. (NASDAQ:VMED) shares gained +16.75% to $45.17 while The Stock traded within the range of $44.50 – $45.50. In the past year, the stock has traded within a range of $21.25 – $45.50. The current session’s volume of 2.81 million shares is down from the average daily trading volume of 2.58 million shares.
What was the Moving Force behind VMED On Bullish Run? Read This Research Report
While If we look at the few other stocks within industry, DIRECTV, Viacom, Inc. and Cablevision Systems Corporation are remain in the gainers list. Let’s have a quick look on their Market performance.
DIRECTV (NASDAQ:DTV) shares are up +1.64% to $52.02 while the stock is traded within the range of $51.23 – $52.05 in the current trading session. In the last 12 months the shares have traded between $42.87 and $55.17. The current session’s volume of 2.03 million shares is lower than their average daily trading volume of 4.14 million shares.
For How Long DTV will Fight for Profitability? Read This Trend Analysis report
Viacom, Inc. (NASDAQ:VIAB) shares in the current session moved up +0.41% reaching at $59.40. The stock traded in a range of $59.17 – $59.75. In the last year the stock has moved within a range of $44.85 – $60.84. The current session’s volume of 1.10 million shares is higher from their average daily trading volume of 3.63 million shares.
Will VIAB Continue To Move Higher? Find Out Here
Another rival company Cablevision Systems Corporation (NYSE:CVC) trading up +0.85% to $14.29. Intraday trading recorded the stock price in a range of $14.14 to $14.39. In the previous 52 weeks the stock’s price ranged between $10.76 and $18.85. The current session’s volume of 1.08 million shares was lower from their average daily trading volume of 3.09 million shares.
For How Long CVC’s Gloss will Attract Investors? Find out via this report
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