17-01-2023, 02:21 PM
In regards to rebranding from Virgin Media, most contracts have change of control clauses. Think Flextech when Telewest and NTL merged, the deal had to be structured in a way that Telewest took control of NTL to avoid losing the UKTV stake (£100mln).
As originally negotiated, the Virgin Media licensing agreement was to originally last 30 years, At the time, the company paid a near 20% premium on the firm's stock market valuation for 30-year rights to the Virgin name. They can "terminate it after 10 years on one year’s notice" - content.edgar-online.com , further more... "and it is subject to earlier termination by us in certain other circumstances, including (subject to specified payments) a change of control." The merger probably keeps to the original agreement as it continues "The agreement also entitles us to use a corporate name that includes the Virgin name."
interestingly "Asked whether NTL and Telewest brands were now consigned to the dustbin of history, Berkett replied "Absolutely" while Branson said: "NTL will be firmly at the bottom of the basket – Telewest not so far down." - www.campaignlive.co.uk - not that Telewest is likely to make a reappearance. Although I still. fondly remember Telewest.
As originally negotiated, the Virgin Media licensing agreement was to originally last 30 years, At the time, the company paid a near 20% premium on the firm's stock market valuation for 30-year rights to the Virgin name. They can "terminate it after 10 years on one year’s notice" - content.edgar-online.com , further more... "and it is subject to earlier termination by us in certain other circumstances, including (subject to specified payments) a change of control." The merger probably keeps to the original agreement as it continues "The agreement also entitles us to use a corporate name that includes the Virgin name."
interestingly "Asked whether NTL and Telewest brands were now consigned to the dustbin of history, Berkett replied "Absolutely" while Branson said: "NTL will be firmly at the bottom of the basket – Telewest not so far down." - www.campaignlive.co.uk - not that Telewest is likely to make a reappearance. Although I still. fondly remember Telewest.