OFT waves through Sky's Virgin TV slurp

BSkyB has received final clearance from the OFT for the acquisition of Living TV Group, which once upon a time was called Virgin Media Television.

Sky now owns LIVING, LIVINGit, Challenge, Challenge Jackpot, Bravo, Bravo 2 and Virgin1, which will be renamed in due course.

Sky is to stump up £55 million to Virgin Media to finalise the acquisition. It has already paid VM £105m.

The disposal will let Virgin Media concentrate on its bid to become a pure play telecoms company.

Admittedly, it also own a half share - with the BBC - in UK TV, owner of 10 digital TV channels, including Dave and Gold, worth at least £350m and up for sale, according to the Sunday Times.