LONDON - Cable television network NTL is trying to cut losses in its media operations, by selling its stake in a number of ventures, including British Eurosport, the ITN 24-hour TV news service and film channel The Studio.
The company is also considering selling its stakes in the Premier League football clubs Aston Villa, Middlesbrough, Newcastle, Leicester and Scottish club Glasgow Rangers, according to reports.
NTL's stake in Eurosport is believed to worth about £18m, and is considered to be the easiest stake to sell because it is the only one that is making money.
Despite securing about £100m in a recent funding round, NTL still has long-term debts of £10bn because of acquisitions over the past two years.
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