NTL, Telewest to avoid UKTV change of control

NTL and Telewest are changing the terms of their merger to avoid activating a change of control clause in UKTV joint-venture agreements between Telewest and BBC Worldwide.

The originally-announced plan would have seen NTL buying Telewest. Such a move would constitute a change of control at Telewest, thereby potentially terminating the UKTV joint-venture arrangement with the BBC. NTL and Telewest now plan to flip that arrangement, with NTL Incorporated becoming a subsidiary of Telewest Global. As such, Telewest would technically not change hands and the change of control clause would not be activated.

The financial terms of the agreement will not be altered and the combined company will still be known as NTL.