Equity group considers Virgin Media buy

May 21, 2007 Providence Equity Partners is considering a $15 billion consortium bid for ailing U.K. cable operator Virgin Media, in which Richard Branson is the biggest shareholder, the U.K. Observer newspaper reported Sunday. The cable group has been embroiled in a damaging and public carriage fee row with BSkyB that has seen Sky's popular entertainment channels taken off the service to the anger of viewers. Despite a $50 million marketing campaign to promote the rebranded Virgin Media service and its quadruple-play offering of cable TV, broadband internet, fixed and mobile telephony, customers have continued to quit the service.

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