UK-based PremiumTV, which operates websites for clients ranging from Britain’s Chelsea soccer club to Warner Music, has been bought by billionaire industrialist Len Blavatnik, for about $50 million. Blavatnik’s Access Industries has bought the company from PTV Inc., a company managed by turnaround specialists Quest Turnaround Advisors, reports Reuters.

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PremiumTV says it hosts more than 150 sites and says it is the largest streamer of live events in Europe…It recently signed a deal with Virgin Media to produce broadband programming of British soccer matches. Quest bought PTV 2002 from Virgin’s predecessor company, NTL..back then it had $61.5 million of liabilities and faltering deals with UK football clubs…now it profitable, Quest said. Some more details in this Telegraph story as well.

Access recently did a deal with Warner Music and SonyBMG to open up a digital music JV in Russia.

Robert addst: With BSkyB having lost its monopoly on Premier League soccer and rights to other competitions changing hands, companies with little rights tie-ups on emerging platforms could find favor. Premium TV has long powered online video features for individual soccer clubs - with platforms like BT Vision and Setanta now eager to deliver soccer programming to customers over even IPTV (essentially broadband internet), Premium TV could find new partners rapidly.