Block & Leviton LLP Investigates Virgin Media, Inc. for Possible Breaches of Fiduciary Duty in Connection with Its Acquisition

 Block & Leviton LLP Investigates Virgin Media, Inc. for Possible Breaches of
   Fiduciary Duty in Connection with Its Acquisition by Liberty Global Inc.

PR Newswire

BOSTON, Feb. 6, 2013

BOSTON, Feb. 6, 2013 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a
Boston-based law firm representing investors nationwide, has commenced an
investigation into possible breaches of fiduciary duty by the Board of
Directors of Virgin Media, Inc. ("Virgin" or the "Company") (NASDAQ: VMED)
concerning the proposed acquisition of the Company by Liberty Global Inc.
("Liberty") in a cash and stock transaction.

Under the terms of the proposed transaction, Virgin shareholders will receive
$17.50 in cash, 0.2582 Liberty Series A shares and 0.1928 Liberty Global
Series C shares for each Virgin share that they hold. Based on Liberty's
Series A share price of $69.46 and Series C share price of $64.50 as of
February 4, 2013, this implies a price of $47.87 per Virgin share. Total
value for the transaction is estimated at approximately $16 billion. The
Company's share price has increased more than 45% between June 2012 and
February 2013, and the stock was likely to continue its growth well beyond the
offer price. Neil Berkett, CEO of Virgin, is expected to receive at least
between $65 million to $85 million upon the consummation of the sale.
Currently, shareholders will collect a paltry 24% premium on the previous
day's closing price. As such, it appears that the proposed offer price
provides an insufficient premium to shareholders.

Block & Leviton's investigation seeks to determine, among other things,
whether Virgin's Directors breached their fiduciary duties by failing to
maximize shareholder value in the proposed acquisition by Liberty and the
overall fairness of the process by which the Virgin Directors considered and
approved the transaction.

If you are a Virgin shareholder and have questions about your legal rights, or
if you have information relevant to this investigation, please contact
attorney Steven P. Harte, at
(617) 398-5600 or email him at Steven@blockesq.com.

Block & Leviton is a Boston-based law firm representing investors nationwide
for violations of securities laws. The firm's lawyers have collectively been
prosecuting securities cases on behalf of investors for over 50 years. This
notice may constitute attorney advertising.

Contact:

BLOCK & LEVITON LLP

Steven P. Harte, Esq.

steven@blockesq.com

(617) 398-5600

SOURCE Block & Leviton LLP

Website: http://www.blockesq.com
 
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