John Malone-backed media conglomerate Liberty Global announced its Q1 revenues of $3.52 billion (€3.21bn), down 17.8 per cent (y-o-y). Its European-based Operating Income was also down 18 per cent (to $431 million). The results were blamed on a “soft start” to the year by CEO Mike Fries. “While most markets reported results consistent with our forecasts, Virgin Media’s cable ARPU was softer than planned, partly due to discounting and mix effect, as well as a decline in mobile revenue.”

Source: Liberty Global downgrades won’t help Sky |