By Noel Young

Cable billionaire John Malone has bought a 6.4 per cent stake in London-based ITV, the U.K.’s biggest commercial broadcaster with top-rated shows such as “Downton Abbey.” with speculation mounting that the next step is a full takeover

Malone’s Liberty Global made the buy from from Rupert Murdoch’s British Sky Broadcasting Group for £481 million.

ITV shares jumped as much as 10 percent in London. Liberty Global said it doesn’t plan to make a full takeover bid for now.

The purchase gives Liberty Global, owner of U.K. cable provider Virgin Media, a stake in channels including ITV, ITV1 and ITV Family, Read full story ›

Source: The Drum