Incidentally, I think there's been a little bit of confusion here about the deal that's been done. Sky have bought Virgin Media TV - formerly Flextech, the company that owns and operates Living, Bravo, Challenge, etc. It's a subsidiary of Virgin Media, which is the cable platform, broadband and telephony provider. As part of the deal, Virgin Media have signed a carriage deal for Sky's channels and programming.
UKTV used to be a joint venture between BBC Worldwide and Flextech, but it seems that at some point the ownership structure changed, and it now appears to be BBC Worldwide and Virgin Media, rather than Virgin Media TV.
I'd imagine there is a holding company for former Flextech- wholly owned channels which has been sold, leaving VM, VMtv (as a shell) and their half of UKTV