Virgin Media put up for sale

IT APPEARS that leading fourplay expert, Virgin Media, has put itself up for sale. This follows loads of speculation that private equity firm, the Carlyle Group, is interested in buying it.

What does appear to have happened is that Virgin Media has appointed Goldman Sachs to "look at strategic alternatives." And Carlyle appears to be talking to Goldman rather than directly to Virgin Media.

In the meantime, anyone else interested can make a bid. But what would be the point? It hardly makes sense to break up Virgin Media considering that the whole industry is hell bent on convergence.

A new owner could save a few pennies, of course. It could slash the travel budget for most employees back down to zero and stamp on expenses, for example. That sort of thing.

What most analysts are hoping, however, is that a new hand on the tiller could retrieve the situation vis-à-vis the whole debacle over the loss of Sky channels on Virgin.

The INQ doesn't know what all the fuss is about, anyway. Channel 4 and BBC 2 are showing episodes of the Simpsons.

The burning question is what will Sir Richard Branson do with his stake? Considering the damage Virgin Media is doing to the Virgin reputation for good service, the INQ's advice is "run away, mate." µ