Virgin Media Inc. is offering an innovative video service called TV Anywhere. This state-of-the-art application platform will enable the company’s subscribers to watch up to 45 live TV channels on several devices including TVs, PCs, smartphones and tablets. This simply means that customers can view the live TV shows even if they are out of home using their mobile devices. Furthermore, by using this application, subscribers can manage recorded programs and control TiVo Inc. (TIVO) developed set top box from a remote place.
Since Dec 2010, Virgin Media started offering a next-generation Web TV platform to its subscribers. The company is utilizing TiVo Inc.’s industry-leading set top boxes for this offering. This new converged digital TV platform provides improved graphics, on-demand video content, catch-up TV service, Web-based applications including games and personal video recorder. Virgin Media’s new product integrates the Internet and live TV on one screen through fiber-optic cable. Over 1 million subscribers have already installed Virgin Media’s next-generation TV platform.
For its latest TV Anywhere service, Virgin Media has used Harmonic Inc.’s (HLIT - Snapshot Report) ProMedia software suite for video processing and encoding. The company has also used Concurrent Computer Corp.’s MediaHawk VX content delivery network solution for content workflow features, DRM management and session-based policy controls for multi-screen video delivery.
On Feb 5, 2013, in a significant strategic move, Virgin Media came out with a joint press statement with Liberty Global Inc. (LBTYA - Analyst Report) , regarding an agreement per which, Liberty Global will acquire a full 100% in Virgin Media, in a cash and equity deal. The deal has a total consideration of around $15.8 billion or an enterprise value of nearly $23.3 billion. Both the companies expect the deal to be completed by the second quarter of 2013, subject to customary regulatory approval. Virgin Media currently has a Zacks Rank #4 (Sell).