Virgin Media is close to agreeing a deal to sell its channels including Bravo, Living and Virgin 1 to Sky, according to reports.

Talks are understood to have advanced following Ofcom’s ruling that Sky must offer its rival Virgin access to its Sky Sports channels at a reduced wholesale rate, which could also result in the two companies agreeing terms for a purchase of the VMTV channels.

Under the terms, Virgin would retain access to its former channels to ensure it can continue to offer them to its cable TV subscriber base of 3.7m.

Rumours have swept TV for the past 18 months that Virgin Media is seeking a sale of its content division but these have never been officially confirmed by the business. 

A spokesman for Virgin Media refused to comment on any “rumour and speculation”.  

RTL plays down Five sale

Meanwhile, European media giant RTL has also played down resurfaced rumours it is close to a sale or merger of its UK channel Five.

Reports suggested it has ramped up talks with rival broadcasters including Sky, ITV and Channel 4, having approached JP Morgan to draw up an auction process.

“We never comment on rumour or speculation but we remain committed to believing in consolidation in the UK TV market,” said a spokesman.

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