Virgin Media 2010 Annual Report Download - page 198

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
VIRGIN MEDIA INVESTMENTS LIMITED AND SUBSIDIARIES
COMBINED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
Note 4—Disposals (continued)
Revenue of the Virgin Media TV business, reported in discontinued operations, for the years ended
December 31, 2010, 2009 and 2008 was £100.1 million, £167.8 million and £147.5 million, respectively. Virgin
Media TV’s pre-tax income, reported within discontinued operations, for the years ended December 31, 2010 and
2009 was £11.9 million and £15.3 million, respectively. Virgin Media TV’s pre-tax loss, reported within
discontinued operations was £26.0 million for the year ended December 31, 2008.
Intercompany costs related to the carriage of the Virgin Media TV channels by our Consumer segment that
had previously been eliminated for consolidation purposes and now have been recognized in our income from
continuing operations for the years ended December 31, 2010, 2009 and 2008 were £14.3 million, £27.3 million
and £25.7 million, respectively.
The assets and liabilities of Virgin Media TV reported as held for sale as of December 31, 2009 comprised
(in millions):
December 31,
2009
Current assets held for sale
Accounts receivable, net ........................................................ £ 27.4
Programming inventory ........................................................ 62.1
Prepaid expenses .............................................................. 5.8
Fixed Assets ................................................................. 3.5
Trademark licenses ............................................................ 11.3
Goodwill .................................................................... 42.7
Current assets held for sale .................................................. £152.8
Current liabilities held for sale
Accounts payable ............................................................. £ 63.2
Accrued expenses ............................................................. 17.9
Deferred revenue and other liabilities ............................................. 2.7
Current liabilities held for sale ............................................... £ 83.8
Disposal of sit-up
On April 1, 2009, we completed the disposal of our sit-up reporting unit, which was previously included
within our former Content segment. sit-up provided a variety of retail consumer products through three
interactive auction-based television channels: price-drop tv, bid tv and speed auction tv.
We determined that the planned sale of the sit-up business met the requirements as of March 31, 2009 for
sit-up to be reflected as assets and liabilities held for sale and discontinued operations in both the current and
prior periods and we adjusted the consolidated balance sheet as of December 31, 2008 and consolidated
statements of operations and cash flows for the year ended December 31, 2008 accordingly. Revenue of the
sit-up business, reported in discontinued operations, for the years ended December 31, 2009 and 2008 was
£38.9 million and £241.8 million, respectively. sit-up’s pre-tax loss, reported within discontinued operations, for
the years ended December 31, 2009 and 2008 was £22.8 million, and £66.6 million, respectively. Revenue
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