Word: telewest
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Dates: during 2000-2009
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...reported to be seeking investors to help them take on Telecom Italia in that country's race for triple-play market share. The wave of wheeling and dealing clearly has risks. NTL, for example, is still hashing out the terms of its $6.6 billion merger with broadband firm Telewest - so how can it now absorb another major company so quickly? And anyone who witnessed the "synergy" mergers in technology and media in the late 1990s has good cause to be skeptical about the current surge in activity. But the traditional phone companies feel they have little choice. The loss...
...growing faster than costs," notes Morgan Stanley's Sarah Simon. (After-tax profits for the past six months were up 18%.) Still, Murdoch faces increasing competition. A multichannel provider called Freeview has won 5 million customers in Britain in little more than two years, while cable operators NTL and Telewest recently launched video-on-demand services that challenge Sky's movie business. F & C's Hayes notes that a share buyback launched by Sky in November could lead to "creeping control" of Sky by News Corp. That's just the sort of worry that rankled investors in the early days...
...year-old Ball, who earned north of $3 million in Sky's fiscal year ended June 30, did an enviable job. When Ball took over, Sky was in an uncertain state, facing genuine competition from a now defunct digital-TV firm OnDigital, and from cable firms ntl and Telewest. Under his tenure, the company embarked on a risky $3 billion conversion to all-digital technology, to offer more channels and support interactive services. The plan seems to have paid off: in August BSkyB reported a pretax profit of $418 million on sales of $5.13 billion in the year ended June...
...need only glance at the recent business headlines to see the hurdles Malone, now chairman of Liberty Media, faces. In Britain the premium over-the-air service ITV Digital recently shut down, and each of the country's two big remaining cable companies, Telewest (in which Liberty holds a 25% stake) and NTL, is saddled with billions of dollars in debt. NTL bondholders rebuffed Malone earlier this year, and if he continues to be shut out of Britain, "there will be a serious piece missing" from his master plan, notes Gary Klesch, a London-based media investor and former Malone...
...needed funds to gain effective control over United GlobalCom, the leading international broadband provider, which has nearly 10 million cable subscribers scattered across the Netherlands, Germany, Austria, France, Scandinavia and Eastern Europe. And although he has been stiff-armed so far, Malone watchers believe he may end up combining Telewest (whose bonds he is trying to buy up) with NTL to form one British cable provider, with 4.7 million subscribers, that could compete with Rupert Murdoch's popular British Sky Broadcasting (BSkyB) satellite-TV service. Lately Malone has been making a play for NTL's Swiss cable subsidiary, Cablecom...
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