Sunday 23 October 2016

Virgin Media Ireland revenue rises to €100m

Published 05/08/2016 | 07:54

Tony Hanway of Virgin
Tony Hanway of Virgin

Revenue at telecoms and media company Virgin Media Ireland increased by 2pc in the second quarter of the year to €100m.

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Virgin Media is part of the Liberty Global group, which is chaired by US billionaire John Malone.

Malone made a move for TV3 last year and backed it up with a €10m deal for UTV Ireland as he increases his footprint in Irish media.

Virgin Media Ireland chief executive Tony Hanway said the company added 13,000 new premises to its broadband network so far this year.

“On the TV broadcasting front, Virgin Media recently announced we have entered into an agreement with ITV plc to acquire UTV Ireland, the nation’s newest free-to-air commercial broadcaster.

"This is another exciting development for Virgin Media and demonstrates our continued commitment to providing great content for Irish viewers.  The proposed acquisition adds Ireland’s newest TV channel to our existing portfolio, which includes TV3, 3e and is subject to competition and regulatory approval by the relevant governing bodies.

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