Telewest, the smaller of the UK's American-owned cable network duopoly, reports a marginal 3.8% reduction in losses, down to £176 million ($329.33m; €253.23m) in 2004 from £183m in 2003. Acting chief executive, Barry Elson, claims this as "great strides" for the company.
In 2004 Telewest emulated its quasi-rival NTL, also US-owned, in undergoing a major financial restructuring, swapping debt for equity. A compliant UK government is expect to approve a merger of the two companies within the next couple of years, thereby forming a full-blown US cable monopoly to challenge the nation's American-owned satellite TV monopoly, NewsCorp-controlled BskyB.
Telewest now claims that nearly 500,000 homes, or 27.4% of its customer base, now subscribes to three services - telephone, internet and TV - up from just 290,000 or 16.8% in 2003.
Data sourced from MediaGuardian.co.uk; additional content by WARC staff