Today in Philly Tech History 2/5/1998: Comcast exits UK cable business

On February 5, 1998, Comcast moved to exit the cable business in the UK by agreeing to sell its operations there to NTL Inc. for around $600 million in NTL stock plus the assumption of Comcast's UK debt. Comcast had 1.6 million subscribers there. Comcast President Brian Roberts said:""While Comcast U.K. has been a leading performer in the U.K. cable and telephone industries, we have determined that long-term success in this market will require greater size and market presence than Comcast U.K. has in its asset base."

It is timely to remember this on the very day that Liberty Global agrees to acquire Virgin Media, effectively becoming Comcast's equivalent in Europe.




permalink