Feeds

NTL completes £1.27bn sale of broadcast division

Whatever

  • alert
  • submit to reddit

Intelligent flash storage arrays

NTL has completed the £1.27bn ($2.3bn) sale of its broadcast division to a consortium led by Macquarie Communications Infrastructure Group.

The UK cableco is to use up to £475m of the proceeds to repurchase its common stock and will use another £500m to repay some of its outstanding debt.

The rest of the cash will be used for "general corporate purposes".

Said NTL chief exec Simon Duffy in a statement: "The closure of this transaction enables NTL to concentrate all its resources on growing and improving its UK communications and content distribution business."

NTL announced the sale of the broadcast unit in December. The business provides tower site leasing, broadcast transmission, satellite, media, public safety communications and other network services in the UK and the Republic of Ireland. Customers include mobile phone operators, TV and radio broadcasters. ®

Related stories

NTL flogs broadcast division for £1.27bn
NTL may chop off Irish arm for 200m
NTL's CIO quits

Choosing a cloud hosting partner with confidence

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Choosing a cloud hosting partner with confidence
Download Choosing a Cloud Hosting Provider with Confidence to learn more about cloud computing - the new opportunities and new security challenges.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.