Cash-strapped U.K. cable company NTL is being sued by Morgan Stanley, one of its banking advisers, for more than £7 million ($9.8 million) in unpaid fees for work dating back to 1999.
Troubled U.K. cabler NTL is poised to announce a restructuring of its £12 billion ($17 billion) debt burden.
U.K. cabler NTL has launched its digital TV platform for the Irish market.
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No Good Deed
No Good Deed1Daily:$1.6M Cumulative:$25.9M Sony / Screen Gems -71.48%
Guardians of the Galaxy
Guardians of the Galaxy2Daily:$578,865 Cumulative:$306.6M Disney -72.21%
Dolphin Tale 2
Dolphin Tale 23Daily:$522,465 Cumulative:$16.4M Warner Brothers -87.42%
NTL, the U.K.'s largest cabler, has had its credit rating downgraded because of concerns that it will not be able to meet the interest payments on its £12 billion ($16.4 billion) debt.
NTL, the U.K.'s biggest cabler, has posted a profit of $124.3 million for the final quarter of 1999, up from a loss of $172.1 million the previous year.
Like their U.S. counterparts, British cable operators are making moves to consolidate their industry as they prepare to go digital.
Cable company NTL has called off its planned bid for the Newcastle United soccer club in the wake of satcaster BSkyB's failed attempt to take over the Manchester United club (Daily Variety, April 12).
U.K. cable operator NTL has launched an interactive TV service in the British market.
Uprooting their Flower Films shingle from the beds of Fox 2000, Drew Barrymore and producing partner Nancy Juvonen are headed for Columbia Pictures in a two-year, first look production deal.