Virgin Media 2007 Annual Report Download - page 7
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with the resulting company becoming the U.K.’s largest provider of residential broadband and
triple-play services of television, broadband and fixed line telephone. The total acquisition price was
£3.5 billion, including £2.3 billion in cash, common stock valued at £1.1 billion and stock options and
transaction costs.
On July 4, 2006, we added a mobile phone offering by acquiring 100% of the outstanding shares
and options of Virgin Mobile Holdings (UK) plc, or Virgin Mobile, through a U.K. Scheme of
Arrangement. The total purchase price was £953.2 million, including common stock valued at
£518.8 million, cash of £419.2 million and transaction costs. We also entered into a license agreement
with Virgin Enterprises Limited under which we are licensed to use certain Virgin trademarks within
the United Kingdom and the Republic of Ireland.
In February 2007, we rebranded our consumer and a large part of our content businesses to
‘‘Virgin Media’’. We also changed the name of our corporate parent from NTL Incorporated to Virgin
Media Inc. and the corporate names of certain of our subsidiaries, including:
• NTL Investment Holdings Limited, the principal borrower under our senior credit facility, to
Virgin Media Investment Holdings Limited;
• NTL Cable PLC, the issuer of our public bonds, to Virgin Media Finance PLC;
• NTL Group Limited, a principal operating subsidiary, to Virgin Media Limited;
• Flextech Television Limited, our content subsidiary, to Virgin Media Television Limited;
• NTL Communications Limited to Virgin Media Communications Limited; and
• NTL Holdings Inc. to Virgin Media Holdings Inc.
For the purposes of this annual report, the new names will be used where applicable. In this
annual report, unless we have indicated otherwise, or the context otherwise requires, references to:
• ‘‘Virgin Media,’’ ‘‘the Company,’’ ‘‘we,’’ ‘‘us,’’ ‘‘our’’ and similar terms refer to Virgin Media Inc.
and its subsidiaries (which include Telewest and its subsidiaries and Virgin Mobile and its
subsidiaries);
• ‘‘NTL’’ refers to NTL Incorporated and its subsidiaries as they existed prior to the name change
to Virgin Media Inc. and prior to the merger with Telewest refers to Virgin Media Holdings Inc.
(which was formerly known as NTL Incorporated before the merger); and
• ‘‘Telewest’’ refers to Telewest Global, Inc. and its subsidiaries as they existed prior to the merger
with NTL in March 2006.
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