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December 04, 2005
Virgin to create integrated multimedia content delivery company
SIR Richard Branson the UK tycoon and founder of the Virgin brand is to combine Virgin’s mobile phone business with NTL, the cable television company, in a bid to create a media powerhouse in Britain.
The move will create an entertainment and communications giant worth £4.5 billion and with more than 9 million customers. The combined media and telecoms business that would offer customers four services — television, fixed-line telephony, mobile phone and broadband internet connections.
NTL will be rebranded Virgin following the deal. The emerging Virgin media and entertainment group will have 2.5 million broadband internet customers, 4.3 million fixed-line telephony accounts, more than 5 million mobile phone customers and revenue in excess of £4 billion.
Posted by admin at December 4, 2005 02:11 PM