Virgin Media Plans to launch 100-megabit Per Second Broadband Service
Virgin Media Plans to launch 100-megabit Per Second Broadband Service

Virgin Media Inc., the U. K.'s second-largest pay-television company's fourth-quarter operating profit climbed 15% with a gain of more fast- Internet clients.

Chief Executive Officer Neil Berkett, changed Virgin Media's focus to broadband and basic TV rather than competing with Rupert Murdoch's British Sky Broadcasting Group Plc in premium pay-TV.

After Virgin Media rose 1.2% to 999.5 Pence, it collaborated with Tivo Inc. to develop a TV and broadband interface.

The company will roll-out 100 megabits-per-second broadband, the fastest broadband Internet service in the U. K.

The user friendly service will allow users to download a music album in 5 seconds, an hour-long TV show in 31 seconds and a high-definition movie in 7 minutes and 25 seconds.

Virgin Media added 34,200 net new TV subscribers in the quarter, 63,600 net fast Internet customers and 77,100 net mobile-phone clients.

As the quarterly losses narrowed, the company announced plans to Virgin Media shares, which trade on the Nasdaq and have more than tripled over the last 12 months.

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