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Virgin Media Lost 36,000 Cable Customers In Second Quarter

LONDON -(Dow Jones)- Virgin Media Inc. (VMED) said Wednesday that it lost 36,000 cable customers in the second quarter, slightly more than the market expected as the cable-television and Internet provider focused on customer value over volume. The group also announced a new plan to return capital of up to GBP850 million to shareholders. MAIN FACTS: - Second quarter revenue GBP985.8m, up from GBP964.2m a year earlier - Cable revenue GBP682.3m, up from GBP656.4m a year earlier - Cable average revenue per user, or ARPU, of GBP47.35, up from GBP45.88 - Operating cash flow GBP392.1m, up from GBP369.7m a year earlier - Operating income GBP134.9m, up from GBP79.6m a year earlier - Free cash flow GBP122.7m, up from GBP108.9m a year earlier - New capital return program of up to GBP850m; up to GBP625m for stock buyback by end of 2012 - Reaffirmed target of approximately 3.0 times net debt to operating cash flow within one to two years -By Lilly Vitorovich, Dow Jones Newswires; 44-0-207 842 9290; lilly.vitorovich@dowjones.com

Stock News for Virgin Media Inc. (VMED)
DateTimeHeadline
06/04/201313:58:24Liberty Global Seeks Consolidation in International Markets...
05/15/201303:00:31Liberty Global Unveils Management Changes At Virgin Media, UPC
05/13/201309:10:05Virgin Media to Delist in London June 10 Following Liberty Global...
05/09/201307:55:20BT Group to Offer Sports Packages to Pubs, Clubs, Hotels
05/09/201307:25:25BT to Offer 3 Sports Channels Free to Consumer Broadband Customers
05/08/201310:00:08Ex-News Corp. Executive to Run Virgin Media
04/24/201302:48:15Virgin Media's New Year Off to Good Start
04/15/201307:30:10EU Approves Liberty Global, Virgin Media Deal
03/26/201313:23:12DOMINANT: TalkTalk CEO Wants BT's Fiber Broadband Network Regulated
03/13/201307:45:57Ofcom to Consult on Spectrum Pricing for Digital Broadcasting
02/13/201318:33:13Liberty Global 4th-Quarter Loss Narrows, Helped by Europe Expansion
02/06/201321:00:37Branson to Clear $316 Million in Virgin Media Deal
02/06/201320:36:07Branson Expected To Clear $316 Million in Virgin Media Deal -Report
02/06/201316:29:17Liberty Global CEO: Expects EU to Be Supportive of Virgin Media...
02/06/201313:30:10S&P Puts Ratings on Liberty Global on Watch Positive
02/06/201312:31:11Virgin Media Jumbo Bond Tests European High Yield Market
02/06/201307:19:09S&P Puts Ratings on Liberty Global on Watch Positive, Citing...
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