Through a press release late on Tuesday, Liberty Global announced it had reached an agreement to acquire Virgin Media for an enterprise value of $23.3 billion. The deal would pit billionaire John Malone against Rupert Murdoch, with Liberty Group entering Europe’s largest pay-TV markets, directly challenging British Sky Broadcasting (BSkyB) and other Murdoch holdings. It’s also the second large deal of the day involving a billionaire, after reports indicated Michael Dell orchestrated a deal to take the namesake company private.