Virgin Media investors want to discuss company's strategy
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{{date|May 15, 2007}}

[[w:Virgin Media|Virgin Media]] announced weak results last week, in part due to competition from [[w:British Sky Broadcasting|Sky]]. Virgin Media lost 47,000 customers from January to March 2007, while Sky gained 51,000 customers in the same time period. 

Franklin Mutual Advisers, which has 9.4% of the Virgin Media shares ([[w:Richard Branson|Sir Richard Branson]] owns 11%) wants to have a meeting with Virgin Media about its "strategic direction, corporate governance and management". Franklin Mutual Advisers is known to take great interest in the companies in which it invests.

This has caused many of the other [[w:Investor|investors]] of Virgin Media to demanding meetings with the [[w:management|management]] of the company. The demands are due to confusion among shareholders at the direction in which the company is heading, ''The Guardian'' reports. After the attempt to buy [[w:ITV|ITV]] was stopped last year, the shareholders think that Virgin Media may lose its battle with Sky and [[w:TalkTalk|TalkTalk]].

Another issue causing concerns amongst investors is the £25.2 million pay cheques for the top seven executives of Virgin Media.  Virgin Media reported a £15.3 million loss last year.

==Sources==
*{{source|url=http://business.guardian.co.uk/story/0,,2079580,00.html
|title=Virgin Media under pressure
|author=Richard Wray and Katie Allen
|pub=The Guardian
|date=May 15, 2007}}
*{{source|url=http://www.forbes.com/business/feeds/afx/2007/05/15/afx3720422.html
|title=Virgin Media investor calls for talks after poor Q1 results - report
|author=Kathy Sandler (Thomson Financial)
|pub=AFX News
|date=May 15, 2007}}

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{{Archived}}
[[Category:Economy and business]]
[[Category:Media]]
[[Category:United Kingdom]]
[[Category:Europe]]


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Virgin Media announced weak results last week, in part due to competition from Sky. Virgin Media lost 47,000 customers from January to March 2007, while Sky gained 51,000 customers in the same time period. 

Franklin Mutual Advisers, which has 9.4% of the Virgin Media shares (Sir Richard Branson owns 11%) wants to have a meeting with Virgin Media about its "strategic direction, corporate governance and management". Franklin Mutual Advisers is known to take great interest in the companies in which it invests.

This has caused many of the other investors of Virgin Media to demanding meetings with the management of the company. The demands are due to confusion among shareholders at the direction in which the company is heading, The Guardian reports. After the attempt to buy ITV was stopped last year, the shareholders think that Virgin Media may lose its battle with Sky and TalkTalk.

Another issue causing concerns amongst investors is the £25.2 million pay cheques for the top seven executives of Virgin Media.  Virgin Media reported a £15.3 million loss last year.
Economy and business Media United Kingdom Europe