On why anyone would want to buy Virgin Media

A good piece in the Times this morning by James Harding following yesterday's announcement that Virgin Media is being courted by the private equity sector.James makes the point that

"cable in Britain has always suffered by comparison
with networks elsewhere. In the United States and Germany, the cable systems
were laid a generation ago, well before they could be challenged by digital
satellite platforms or DSL-upgrades to copper wire telephone lines. Along the
way, nearly every cable operator has had to undergo a financial restructuring to
absorb the costs of developing a national network. "

As to why Carlyle would want to make a bid for sucha debt laden organisation,well.....it

"has an enviable combination of assets for a converging
world of entertainment and communication: it has all the elements of the
quadruple play – television, telecoms, broadband and mobile; it has distribution
over Freeview and over a pay-TV platform; it has a content business; and it has
a brand. Carlyle’s gamble is that private equity can put the business on a
stable financial footing and impose effective management, so that cable,
finally, fulfills its long-heralded potential. It is a bold bet."