Virgin Media could be changing name
March 5, 2008
Sir Richard Branson’s communications company Virgin Media has become a household name in the UK, not least because of the rows that erupted between the media giant and Rupert Murdoch’s company BskyB. As a result of these rows, which were over payment for Sky channels, Virgin Media customers ended up losing a number of channels, and many decided to leave Virgin because of this.
US based company Carlyle has now put in a bid of £5.5 billion for Virgin, and a spokesman for the company has stated that if the bid is successful there may be a name change in store for Virgin Media. This is because Carlyle wants to put any bad blood between Virgin and BskyB behind it, and feels that the easiest way to do this, and do build bridges between the two companies, is to get rid of the Virgin brand name.
However, some feel that this would be a costly mistake, and this is because of the popularity of the Virgin name within the UK, as well as the millions of pounds that have already been ploughed into promoting and marketing Virgin Media in the past.
One official stated: “It seems odd that Carlyle is prepared to write that money off and start again, especially as Virgin strikes a chord with the British public.”
Virgin Media has seen its fair share of problems over recent months, and has lost a lot of custom over its rows with BskyB. However, Carlyle hopes that if the bid for £5.5 billion does go through a possible name change could help to remedy these problems and could result in improvements in the relationship between the two media giants.
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