gfxgfx
 
Please login or register.

Login with username, password and session length
 
gfx gfx
gfx
76662 Posts in 13458 Topics by 2083 Members - Latest Member: PuengJai October 28, 2021, 09:14:19 am
*
gfx*gfx
gfx
WinMX World :: Forum  |  Discussion  |  WinMx World News  |  Virgin Media puts content division on the market
gfx
gfxgfx
 

Author Topic: Virgin Media puts content division on the market  (Read 402 times)

0 Members and 1 Guest are viewing this topic.

Offline DaBees-Knees

  • WMW Team
  • *****
Virgin Media puts content division on the market
« on: March 10, 2009, 05:51:31 pm »
http://business.timesonline.co.uk/tol/business/industry_sectors/media/article5848247.ece

Quote
Virgin Media is understood to have formally hoisted a “For Sale” sign over its content business, which includes stakes in the Dave and Living television channels. The cable group has appointed UBS to advise it on a sale of the unit, which could fetch up to £500 million. The decision was underscored yesterday by the departure of the division’s head, Malcolm Wall. Sources said that his exit should be read as a signal of Virgin’s intention to offload its content assets, which include its 50 per cent stake in UKTV – home to a range of digital channels – and IDS, its advertising sales unit. A sale would help to ease the burden of the group’s £6 billion debt pile. However, the process could be complicated by the negotiations over the possible merger of Channel 4 and BBC Worldwide, Virgin Media’s partner in UKTV. BBC Worldwide has a change-of-control clause in the UKTV joint venture that gives the BBC the option to buy the remaining half of UKTV ahead of a third-party buyer. Investors are understood to have told Virgin Media that the group should focus on its core business of providing broadband, telephony and television to consumers, rather than continuing to create programming. The strategy is a U-turn from Virgin’s past aggressive push into content, in which it tried, in 2006, to buy ITV. The group has already abandoned one sale of its content business. Three years ago it began a sale process that drew interest from Viacom, Disney, Sparrowhawk Media and BSkyB, the satellite broadcaster that is 39.1 per cent owned by News Corporation, parent company of The Times.Then the channels were valued at about £800 million. Last month Virgin Media published fourth-quarter figures showing that customers signing up to its services declined by almost 40 per cent. The group reported losses of £50 million and said that it had gained 14,800 new customers in the last three months of 2008, against 24,000 a year earlier. The number of broadband, TV and telephone packages sold by it fell to 185,000, from 272,100 in the final quarter of 2007.

Did someone mention something about learning to walk before you run?

WinMX World :: Forum  |  Discussion  |  WinMx World News  |  Virgin Media puts content division on the market
 

gfxgfx
gfx
©2005-2021 WinMXWorld.com. All Rights Reserved.
SMF 2.0.18 | SMF © 2021, Simple Machines | Terms and Policies
Page created in 0.024 seconds with 24 queries.
Helios Multi © Bloc
gfx
Powered by MySQL Powered by PHP Valid XHTML 1.0! Valid CSS!