US cable giant eyes Virgin Media The US cable titan, owned by billionaire John Malone, could announce a bid in coming days, according to reports in the Financial Times citing people familiar with the situation. Virgin Media, which has a market value of £7.5bn, confirmed the two companies were in discussions "concerning a possible transaction," but provided no further details. A deal would be subject to regulatory and other conditions, it added. A successful deal would see the US group, the second-largest cable company in the world after Comcast, enter one of Europe's most competitive pay-television markets, where players engage in aggressive pricing wars.