Monday 22 October 2018

Virgin Media seals deal for Cablevision

“The Casey family were true pioneers of the cable industry in Ireland,” said Paul Farrell, vice-president of commercial at Virgin Media Ireland.

Virgin Media Ireland has acquired Waterford-based Casey Cablevision for an undisclosed sum.
Virgin Media Ireland has acquired Waterford-based Casey Cablevision for an undisclosed sum.

Ellie Donnelly & Adrian Weckler

Virgin Media Ireland has acquired Waterford-based Casey Cablevision for an undisclosed sum.

Established in 1979, the family-owned Casey Cablevision provides pay-TV, high speed broadband and phone services to more than 2,000 customers in and around Dungarvan.

"The Casey family were true pioneers of the cable industry in Ireland," said Paul Farrell, vice-president of commercial at Virgin Media Ireland.

"They were the first to invest in fibre-optic cabling some 40 years ago, which allowed them to offer high-speed broadband to customers in the south-east when the provision of such services was a distant dream for Irish consumers and businesses.

"It's a good footprint, too, with 6,000 homes passed and 2,000 customers."

Mr Farrell said that the acquisition was "unique" and not part of a new wave of Virgin commercial buyouts.

"There isn't any other similar deal imminent," he said.

Mr Farrell said that Virgin is meeting expectations under its parent company's 'Project Lightning' infrastructure rollout plans. This includes expanding its network to regional towns with "scale and opportunity", he said.

Such towns include Ennis, Portarlington, Wexford, Drogheda, Dundalk, Athy, Wicklow, Arklow and Tuam.

Virgin Media - which includes TV3 and the former UPC cable business - saw revenues up 11.6pc to €109m in the first three months of the year compared to the same period in 2017.

The company, which is a wholly-owned subsidiary of John Malone's Liberty Global, ended its most recent financial quarter with 1,061,600 Irish cable and mobile subscriptions.

Irish Independent

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