Tech
Cable operator ntl is to focus on its core cable television and broadband businesses after selling off its broadcast unit for £1.27bn.
The buyers of ntl Broadcast, Macquarie Communications Infrastructure Group, also purchased ntl's Australian transmission operations in 2002.
"We are very pleased to have agreed the sale of our Broadcast division to MCG on these terms," said ntl CEO Simon Duffy. "MCG has been an excellent owner of a similar business we sold to them in Australia in 2002 and I am sure that they will prove to be an equally good owner of our UK Broadcast business. The 2002 transaction has proved to be highly beneficial to both MCG and ntl and I am confident that the transaction we are announcing today will prove to be just as successful for both parties. Going forward, this transaction will enable us to focus on continuing to grow our core cable and broadband businesses."
It is expected that the sale will be complete during the first quarter of 2005. ntl says that it has "entered into certain agreements" with the broadcast business "relating to the provision of future services," but no specific information was released.
The buyers of ntl Broadcast, Macquarie Communications Infrastructure Group, also purchased ntl's Australian transmission operations in 2002.
"We are very pleased to have agreed the sale of our Broadcast division to MCG on these terms," said ntl CEO Simon Duffy. "MCG has been an excellent owner of a similar business we sold to them in Australia in 2002 and I am sure that they will prove to be an equally good owner of our UK Broadcast business. The 2002 transaction has proved to be highly beneficial to both MCG and ntl and I am confident that the transaction we are announcing today will prove to be just as successful for both parties. Going forward, this transaction will enable us to focus on continuing to grow our core cable and broadband businesses."
It is expected that the sale will be complete during the first quarter of 2005. ntl says that it has "entered into certain agreements" with the broadcast business "relating to the provision of future services," but no specific information was released.
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