Virgin Media sheds 40,000 customers

LONDON - Virgin Media has estimated a loss of 40,000 customers in its second quarter, despite reporting 2,200 net new additions to its television service.

The second quarter results emerged in light of the postponement of the sale of the company. Potential buyers have been unable to access the cheap debt required to afford the purchase and have been forced to delay proceedings as of yesterday.

In the results released today, Virgin Media has reported its net customers in the second quarter has fallen 70, 300 from the previous quarter, following the row with BSkyB. The wrangle between the broadcasters, which resulted in Virgin no longer carrying Sky's basic channels, has had a seemingly negative effect on the company's customer base.

Other areas of the report showed more positive results including an increase in the number of Virgin Mobile contract customers from 53,000 to 299,000 and in Virgin broadband customers from 51,000 to 3.5m.

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