Cable giant NTL has announced the appointment of a new president and chief executive to oversee its merger with rival Telewest, giving Stephen Burch the combined role and moving incumbent CEO Simon Duffy to the position of executive vice chairman in the combined company.
Commenting on the two moves, which are effective from 16 January 2006, James F. Mooney, NTL Incorporated’s chairman, said: “Since joining the company in March of 2003, Simon has helped lay the foundation that has enabled NTL to reach the next phase of the company’s evolution. Against that backdrop, and recognizing that the company’s enhanced scale and presence now requires a greater focus on external management, Simon will concentrate on that area.
“We will look to Stephen to lead NTL through our merger with Telewest. Stephen brings a wealth of leadership and direction to our company in this pivotal time as we now begin in earnest to integrate Telewest to create the premier UK communications company. Stephen’s recent experience in being a part of Comcast’s integration of AT&T Broadband has served as the industry gold standard and we are excited that he will lead us through this historic period.”
In addition to the management reshuffle, NTL announced this morning that it would be re-arranging the terms of its merger with Telewest, essentially making it a Telewest takeover – a move which could help retain the company’s partnership with the BBC over UKTV.
Earlier this month NTL made an approach towards Virgin Mobile, with a view to merging to create a ‘quadruple play’ company offering TV, internet fixed and mobile phone services. However, Virgin’s board backed away from the deal, rejecting NTL’s £817 million bid, despite it having majority shareholder Sir Richard Branson’s backing (see Virgin Mobile Backs Away From NTL Deal).
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