-Virgin Media aims to lead in web TV.(Brief article)

CORPORATE IT UPDATE-(C)1995-2011 M2 COMMUNICATIONS

18 February 2011 - Virgin Media (NASDAQ:VMED) aims to take an early lead in the contest to provide web-connected TV to UK consumers with plans to step up distribution this year of Virgin Media TiVo, its new-generation TV product introduced in December, the Financial Times wrote.

Chief executive Neil Berkett said the service had seen 50,000 pre-registrations, adding that his company was "at the leading edge" of the shift in customers' entertainment-watching habits and that it would exploit any postponement in competing products.

It was announced recently that the launch of the YouView Internet-TV platform, which is backed by several companies, will be put off until 2012.

For 2010 Virgin Media reported revenue growth of 5.8% to GBP3.88bn (USD6.27bn/EUR4.61bn) versus consensus estimates of GBP3.86bn.

Operating cash flow rose 12%, operating income grew to GBP321.9m from 2009's GBP132m, while pretax loss on continuing operations shrank to GBP293.3m from GBP352.8m. The loss mainly reflected interest payments.

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