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February 26, 2010

Virgin Media returns a strong quarter

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by David Allen

The cable, broadband and phone provider Virgin Media has announced that it added 34,200 new cable TV subscribers during the last quarter, taking the provider’s total market share to over 3.7 million.

As a content provider Virgin Media Television, which includes Bravo, Challenge, Living and Virgin 1 and owns half of the UKTV group of channels with the BBC, delivered a revenue of £38.2 million, representing an increase of 11.7 per cent.

As far as content goes, Virgin Media is still in talks with BSkyB over the sale of Virgin Media Television and there is still a decision to be made on the fifty per cent share in UKTV.

The BBC has been given the go ahead to buy the shares, but Virgin Media funds this through loans that are estimated to be around £129 million.

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