Posts Tagged ‘Virgin’

Virgin Media blames scruffy students for HUGE drop in cable subscribers

No need to plagarise work using Google once academic year ends

Virgin Media reported flat second quarter revenue this morning as it presented its first results since falling into the clutches of US cable giant Liberty Global.

The telco attributed its tiny 0.6 per cent sales growth (£1.03bn) during the period ended 30 June to VM’s decision to jack up prices for its cable business earlier this year.

But the company suffered a dip in its mobile division, where revenue fell nearly six per cent to £124m compared with £131.8m for the same quarter a year earlier.

Virgin Media’s non-cable unit – which now comprises 168,600 ADSL subscribers – unsurprisingly stumbled a massive 20.7 per cent to £14.6m from £18.4m in 2012.

Its business segment also took a battering: revenue slipped more than 11 per cent to £147.5m compared with £166m during last year’s Q2. Virgin Media partly blamed the drop on a decline in voice sales and some contract renegotiation with partners.

Peter Kelly has been poached from Vodafone to take charge of Virgin Media Business. He will replace the unit’s interim managing director Tony Grace, who returns to his previous job as chief operating officer of that division.

As for its consumer base, Virgin Media said it had lost 23,500 “customer relationships” in the quarter – by which it means “customer accounts”, a number reflecting the number of users on its books, regardless of the type or number of services they consume. That’s a big leap from 2012’s second quarter figures, when 14,700 customers unhooked from the service provider.

Read More By Kelly Fiveash

Who’s the daddy of Virgin Media now? That would be Liberty Global

£24bn ISP gobble completes

US cable giant Liberty Global has completed its takeover of Virgin Media in a $24bn (£15.5bn) cash deal.

VM boss Neil Berkett – now £42m richer – has been replaced by one-time News Corp man Tom Mockridge.

The telco’s new CEO told the city that he was glad to be “joining the company at this important inflection point in its development”.

Shares in the company will begin trading on Wall Street from today.

Virgin Media has more than 5 million subscribers on its books. It will retain its brand under its new parent company.

Average UK broadband speed: 12Mbps

broadband-news

Superfast is really kicking in

Superfast fibre is finally starting to dig its heels in and have a real impact on the average UK broadband connection speed, according to the latest figures from Ofcom.

Ofcom reckons that the average UK broadband user – as of November 2012 – gets a healthy 12Mbps down their data pipe. Of course, the overall picture is still quite a case of haves and have-nots, and indeed it’s polarising even more as BT and Virgin Media’s super-fast rollouts continue across the UK (but not, naturally, in more remote areas).

The overall average is up considerably from the previous November, when it stood at 7.6Mbps. Indeed, it’s not far off double that amount.

Read the Full Article by Darren Allan

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