US Cable Giant Liberty Global buys Virgin Media

[GrimUpNorth]

Originally Posted by Media Boy

Thanks for info.

News to me all I know before today was that deal will be close by end of June.

Info here - bottom of page 2, top of page 3.

Cheers

Grim

[Media Boy UK]

Originally Posted by GrimUpNorth

Info here - bottom of page 2, top of page 3.

Cheers

Grim

I have been looking up to find the story.

Found one from 'Hollywood Reporter' and have reposted it on my blog.

[Horizon]

The new shares should be traded on Monday but no doubt Liberty will announce something before then if everything went smoothly at the shareholder meetings.

Takeover complete:

http://www.lgi.com/pdf/press-release...al-Release.pdf

---------- Post added at 16:14 ---------- Previous post was at 16:06 ----------

VM's investor page now showing Liberty logo and name:

http://investors.virginmedia.com/pho...&p=irol-irhome

They are now bidding for the largest operator in Germany - looks like world domination or at least european is the plan!

http://www.bizjournals.com/denver/bl...o-bid-for.html

Looks like Liberty do react to competition when needed.

UPC to launch broadband at 500Mbps this year

UPC is currently testing broadband services at up to 500Mbps. A commercial launch in the Netherlands is expected this year, said Mike Fries, CEO of parent company Liberty Global, on a conference call over Q1 results. Sister company Cablecom in Switzerland will also offer the 500Mbps service. UPC Netherlands recently increased its top speed to 200Mbps, in response to growing competition from FTTH services.

[Horizon]

Originally Posted by Top banana

They are now bidding for the largest operator in Germany - looks like world domination or at least european is the plan!

http://www.bizjournals.com/denver/bl...o-bid-for.html

Vodafone have piped Liberty to the post and it looks like they will grab Kabel Deutschland instead.

http://www.bbc.co.uk/news/business-23026955

It was muted earlier in the year that Vodafone would make a bid for Liberty eventually. As Vodafone and Liberty are both currently competing against each other buying up European cable companies, it would make sense if Vodafone bought up Liberty too.

[denphone]

Time Warner Cable Shares Surge on Report of Liberty Media Deal.

http://www.thestreet.com/story/11964...edia-deal.html

[Media Boy UK]

Cindy Rose to leave Virgin Media

Virgin Media’s television boss Cindy Rose is to leave the company following its acquisition by Liberty Global.

Separately, Virgin Media has brought in Stephane David as executive director of content.

He is currently vice president of programming at Liberty Global and will now be heading up Virgin Media’s relationships with channel operators and content providers.

He joined Liberty Global in 2005 and previously worked at the Canal+ Group, in the Netherlands and Belgium.

However, Virgin Media stressed that this new role does not signal a move back into content business, which it left when it sold its content and channels arm to Sky in 2010.

http://www.broadcastnow.co.uk/news/p...&contentID=870

[denphone]

The lady who's mot famous comment was we will launch 100's of apps.

[Qtx]

Originally Posted by denphone

The lady who's mot famous comment was we will launch 100's of apps.

Considering her position, what she said was coming soon and what was actually delivered in her time there, could that be why she is out the door now?

I would guess the new guy will bring in some better negotiating skills for channels/content as VM have not really excelled themselves in that area in the recent past.

[Horizon]

It seems Liberty are cementing their hold on VM. Before the takeover of VM, Liberty said it would be business as usual and there would be no changes. After the takeover, most of VM's senior execs are now gone and replaced with Liberty's own people, some of whom were originally directors in ntl and telewest, as was....

Plus, Malone, obviously hasn't given up on the US cable market either as that article suggests he would quite like to merge with Time Warner (fat chance) and other US cable cos.

Originally Posted by Horizon

It seems Liberty are cementing their hold on VM. Before the takeover of VM, Liberty said it would be business as usual and there would be no changes. After the takeover, most of VM's senior execs are now gone and replaced with Liberty's own people, some of whom were originally directors in ntl and telewest, as was....

Plus, Malone, obviously hasn't given up on the US cable market either as that article suggests he would quite like to merge with Time Warner (fat chance) and other US cable cos.

Its the norm though for the senior people to leave, if you look at the financials they all held enough stock to ensure they never need to work again

Who were originally directors at NTL/Telewest they have appointed though - I have followed these businesses for years and don't recognise any of the appointments?

To date they are

Tom Mockridge - ex News International
Robert Dunn - Liberty Global for last 13 years and before that he was at Impress Packaging Group
Dana Strong - Liberty Global for last 14 years and before that Austar in Australia
Stephane David - 8 years Liberty Global and before that Canal+

[Pierre]

Originally Posted by Horizon

It seems Liberty are cementing their hold on VM. Before the takeover of VM, Liberty said it would be business as usual and there would be no changes. After the takeover, most of VM's senior execs are now gone and replaced with Liberty's own people, some of whom were originally directors in ntl and telewest, as was....

Plus, Malone, obviously hasn't given up on the US cable market either as that article suggests he would quite like to merge with Time Warner (fat chance) and other US cable cos.

There have been moves the other way too, just not announced.

On a technical and engineering level there have been people from VM, taken on an overall LG position.

Also there are no original NTL/Telewest directors returned that I know of.

[Horizon]

Originally Posted by Top banana

Its the norm though for the senior people to leave, if you look at the financials they all held enough stock to ensure they never need to work again

Who were originally directors at NTL/Telewest they have appointed though - I have followed these businesses for years and don't recognise any of the appointments?

To date they are

Tom Mockridge - ex News International
Robert Dunn - Liberty Global for last 13 years and before that he was at Impress Packaging Group
Dana Strong - Liberty Global for last 14 years and before that Austar in Australia
Stephane David - 8 years Liberty Global and before that Canal+

To clarify, I meant directors/execs at Liberty (not VM) who were previously involved in uk cablecos. Bryan Hall, Liberty's current legal bod was VM's lawyer up until about a year ago. Charlie Bracken, I am almost 100% sure was a Telewest manager in the past and Rick Westerman (a yank) and one of Malone's people was involved in UK cableco in the distant past too.

[Horizon]

Originally Posted by Pierre

Also there are no original NTL/Telewest directors returned that I know of.

Not any directors no, (some have died!) but there are some of Malone's people who were involved with Telewest and its predecessors are with Liberty.