Virgin Media posts another quarterly loss
Cabler's net losses narrow to $202.5 milLONDON -- Virgin Media, the U.K.'s biggest cable company, posted its 11th consecutive quarterly loss for its first fiscal quarter of 2008, reporting that net losses narrowed to 104 million pounds ($202.5 million) from 120 million pounds a year ago on revenue down 2% at 1 billion pounds ($1.95 billion).
Virgin added 36,800 new TV customers in the first three months of the year. Recently appointed chief executive Neil Berkett said customer numbers were up and that he had reopened talks with satcaster BSkyB to end a bruising channel dispute that has seen Virgin Media customers quit the platform in droves.
Berkett confirmed that carriage talks for a raft of channels including Sky One and Sky News had been held and signaled optimism that a deal with new BSkyB CEO Jeremy Darroch could be done.
"It's fair to say that with a change at the top of both organizations, there is a dialogue and there's no sort of emotional legacy that would hold us back," he said.