Virgin Media 2010 Annual Report Download - page 11

During the year ended December 31, 2010, we repurchased approximately 9.3 million shares of common
stock, at an average purchase price per share of $20.78 through the accelerated stock repurchase program
mentioned above for an aggregate purchase price of $194 million (or £122.5 million), and 2.3 million shares of
common stock, at an average purchase price per share of $26.82 through an open market repurchase program for
an aggregate purchase price of $61.7 million (or £39.0 million). The shares of common stock acquired in
connection with these programs have been cancelled. The remaining amount authorized under this plan is
£213.5 million (or $333.0 million based on the exchange rate at December 31, 2010).
Strategic Objectives
Our strategic objectives in 2011 revolve around exploiting our superior network infrastructure to offer
differentiated products and services while retaining strong cost control and financial discipline. We will also be
placing more emphasis on cross-selling mobile services to our cable customers and seeking to grow our Business
segment revenues through a focus on managed data services.
Available Information and Website
Our principal executive offices are located at 909 Third Avenue, Suite 2863, New York, New York 10022,
United States, and our telephone number is [phone]. Our U.K. headquarters are located outside of London,
England in Hook, Hampshire. The public may read and copy any materials we file with the SEC at the SEC’s Public
Reference Room at 100 F Street, NE, Washington, DC 20549. The public may obtain information on the operation
of the Public Reference Room by calling the SEC at (800) SEC-0330. Our annual reports on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K, and any amendments to such reports filed with or furnished to
the SEC under Sections 13(a) or 15(d) of the U.S. Securities Exchange Act of 1934, as amended, or the Exchange
Act, are available free of charge on the SEC’s website at www.sec.gov and on our website at www.virginmedia.com,
as soon as reasonably practicable after they are filed with, or furnished to, the SEC. The investor relations section of
our website can be accessed by going to www.virginmedia.com/about and then clicking on “Investors Information”.
Our press releases which provide notice of upcoming presentations including the relevant dial-in-details where
applicable are also provided on our website. The information on our website is not incorporated into our SEC
filings.
Our Business
Our Cable Network Advantage
Our network infrastructure includes hybrid fiber coax, or HFC, with optical fiber deployed to street cabinets,
and a twinned cable, consisting of both high-capacity coaxial cable and twisted copper-pair elements. This
extends from the street cabinet to the customer’s home within reach of our access network by direct connection
to our cable network, allowing us to deliver high-speed broadband internet services without degradation over
distance. We believe that this deployment of coaxial cable directly to the home closer to the end user, or deep
fiber access, provides us with several competitive advantages in the areas served by our network. For instance,
our cable network allows us to concurrently deliver downstream broadband services, together with real-time
television and video-on-demand content, or VOD, at higher speeds and with less data loss than comparable
services of other providers. Our competitors are reliant on the access infrastructure of the former state incumbent,
BT Group plc, or BT, which typically relies on copper-pair technology from the local exchange to the customer’s
home, which delivers an average of 4Mb. BT is upgrading its infrastructure to provide data services capable of
higher speeds, using fiber- to-the cabinet technology, but service providers using BT’s existing network are, and
may remain, subject to capacity limits which can affect data download speeds. Our cable network also offers
benefits over the infrastructure of satellite service providers, which are unable to offer interactive services in the
absence of a fixed line telephone connection, using third party access infrastructure. By contrast, our cable
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