LONDON: US-owned UK cable services monopoly Virgin Media, in which Sir Richard Branson is the largest – but not controlling – shareholder, hopes to monetise its seven wholly-owned TV channels in a bid to emerge from the red.
Goldman Sachs, fresh from its $3 billion assets write-down last month, is doubtless glad of the chance to earn a few dollars in assisting Virgin out of its financial straits. The Wall Street titan has been appointed to 'review' the disposal of the channels.
There already appears to be one potential buyer – John C Malone'sLiberty Global, an offshoot of the US media tycoon's Liberty Media conglomerate.
With the feigned apathy of a seasoned wheeler-dealer, Liberty Global chief strategy officer Shane O'Neill conceded: "If it came on the market we would be duty bound to have a good look at it."
Data sourced from Telegraph.co.uk; additional content by WARC staff