Quote:
Originally Posted by TV Boy
Branson: Virgin still wants ITV
Sir Richard Branson has signalled that cable group Virgin Media has not abandoned its ambitious plans to buy ITV.
Sir Richard, Virgin Media's largest shareholder, also suggested his Virgin group would retain its 10.5% stake if the cable company is sold.
Speaking today from his home in Oxfordshire at the launch of Virgin 1 channel, Sir Richard was asked about recent takeover approaches from private equity groups and what a sale would mean for the Virgin Media brand.
Full story here: http://media.guardian.co.uk/city/sto...178666,00.html
Info from Media Guardian.
|
Reading that is very promising, but the problem is if Virgin Media (theres no question Virgin can) can afford it.
At the moment, shares in ITV are becoming cheaper and cheaper, and even though its not at the rate of, say, Northern Rock, its still decreasing.
The £940m it mentions Sky bought in ITV could be worth £700m by the time the report is published. It could be £800m. But if Sky are told to sell, and Virgin and willing to Buy, then the deal is set. 17.9% would be Virgin Media's.
Im concerned that VM are actually interested in ITV which, as I say, is flagging, even though it has some of the highest viewed programs on TV, plus footie rights and so on.
Finally Id like to add an important note.
The last time Sky were put under the Microscope of Ofcom, the Government and all that, Sky were found guilty of having a Monopoly on many things... this resulted in Sky Sports ands Sky Movies being a mainstay for Virgin Media, back when it was Telewest and ntl: by LAW, and if they are seen to be doing this again, for example, with interactive services on Sky Sports, and other things, a Law could be passed that says Cable customers have the rights to have this content "in the interest of fair competition".
The announcement of the findings is definitly going to be a landmark decision in the TV Market in this country. BUT it could go eitherway. Both have very strong cases, but Sky have been done for this before, and therefore, they dont exactly have the law on their side.
Just like an everyday Criminal, if they have previous convictions, they are already fighting an uphill battle. Sky has a previous conviction in the exact same offence... thus they have started at the bottom of the hill, against Setanta, Virgin Media, BBC and Channel 4... and I know I wouldnt like to face those companies in a Legal Battle! lol