Tech
Branson to question Virgin Media's strategy
Published Tuesday, May 15 2007, 10:27 BST | By James Welsh
Virgin Media's two largest shareholders are expected to question the company's investment and programming plans at a board meeting to be held today in New York City.
The Financial Times reports that Sir Richard Branson's Virgin Group, which holds an 11% stake in Virgin Media, is expected to question the cable operator's strategic direction - particularly with respect to its plans for investment and programming - at the meeting.
Franklin Mutual Advisers, Virgin Media's second largest shareholder with a 9% stake, filed a brief with the Securities and Exchange Commission that said it wanted to discuss matters of "strategic direction, corporate governance and management" with the company, citing its poor first quarter results.
The Financial Times reports that Sir Richard Branson's Virgin Group, which holds an 11% stake in Virgin Media, is expected to question the cable operator's strategic direction - particularly with respect to its plans for investment and programming - at the meeting.
Franklin Mutual Advisers, Virgin Media's second largest shareholder with a 9% stake, filed a brief with the Securities and Exchange Commission that said it wanted to discuss matters of "strategic direction, corporate governance and management" with the company, citing its poor first quarter results.
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