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Four Media Buys 4 Rival Firms From Virgin Media

May 16, 2000|BLOOMBERG NEWS

Four Media Co., Burbank, a unit of AT&T's Liberty Media Group that sells post-production services for movies and TV, said it bought four competitors from Richard Branson's Virgin Media Group for $40 million.

Four Media said it acquired Rushes Postproduction Ltd. and West One Television Ltd. in London, 525 Studios Inc. in Santa Monica, and Virgin Television de Mexico in Mexico City from closely held Virgin Media Group.

The transaction represents almost all of Virgin's post-production businesses, Four Media said. London-based Virgin Media is the holding company for all of Virgin Group's media interests.

Four Media said the acquisitions would help it expand globally and offer new services in the U.S. and United Kingdom.

Four Media was bought in April by AT&T Corp.'s Liberty Media Group for $325.8 million. Liberty Media shares rose 1 to 44 on the New York Stock Exchange.

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