Editing NTL Incorporated (section)

=== 1992–2006 ===

[[Barclay Knapp]] and George Blumenthal, the founders of American cellular network company Cellular Communications, Inc. (sold to [[AirTouch|Airtouch]] in 1996), established '''International CableTel''' in 1993 to take advantage of the [[deregulation]] of the UK cable market. Initially, Cabletel acquired local cable franchises covering [[Guildford]] and parts of Northern Ireland, Scotland and Wales. In 1996 CableTel acquired '''National Transcommunications Limited''' ('''NTL'''), the [[privatization|privatised]] UK [[Independent Broadcasting Authority]] transmission-network. In May 1998 CableTel adopted "NTL" as its new name.

The company spent heavily: both on expanding its network and on acquiring rivals (in 1999, it acquired [[Cambridge Cable]], one of the earliest digital networks, that had been installed across the university city ten years earlier). In July 1999, NTL purchased the consumer assets of [[Cable & Wireless plc]] for nearly £8.2 billion, integrating the telephone, internet and television operations of Cable & Wireless into its own ever-expanding operation. <ref>{{cite news |url=https://the-media-leader.com/ntl-spends-l8-2bn-on-cable-wireless-communications/ |title=NTL Spends £8.2bn On Cable & Wireless Communications |work=The Media Leader |date=1999-07-26 |accessdate=2023-03-14 }}</ref><ref>{{cite news |last=Bannister |first=Nicholas |url=https://www.theguardian.com/business/1999/jul/27/1 |title=NTL buys CWC for £8.17bn |work=The Guardian |date=1999-07-27 |accessdate=2023-03-14 }}</ref>

[[Devaluation|Devalued]] and struggling with debts of around $18bn, NTL had to seek [[Chapter 11, Title 11, United States Code|Chapter 11]] bankruptcy-protection in May 2002 in order to organise a refinancing deal. The company did not emerge from protection until January 2003, having converted around $11bn of debt into shares – technically, this amounted to the largest [[Default (finance)|debt default]] in US corporate history. The company reduced its debt to $6.4bn. A re-organisation split NTL itself into NTL Inc. (covering the UK and Irish markets) and NTL Europe Inc. (for the French, Swiss and German parts of the corporation). New executives replaced the NTL president, CEO and co-founder Barclay Knapp, as well as [[Stephen Carter, Baron Carter of Barnes|Stephen Carter]], the [[Managing director|MD]] and [[Chief Operating Officer|COO]].

After exiting from Chapter 11 protection NTL produced an operating profit. In 2004, it announced plans to split the broadcasting division off from the main company. In December 2004, NTL sold its broadcast-unit to a consortium led by [[Macquarie Bank|Macquarie Communications Infrastructure Group]] (MCG) for £1.27 billion. Macquarie renamed the division ''[[Arqiva]]'' in May 2005. This sale allowed NTL to focus on its "core businesses" of providing communications packages and cable services.

In late 2004, NTL purchased the remaining shares of the [[Internet service provider]] (ISP) [[virgin.net]], originally a joint venture between NTL and [[Richard Branson]]'s [[Virgin Group]].<ref name="Virgin.net">{{cite news
 | title = NTL takes control of Virgin Net
 | publisher = BBC News
 | date = 28 September 2004
 | url = http://news.bbc.co.uk/1/hi/business/3698894.stm
 | access-date = 7 December 2006 }}</ref>

By 2005, its UK network consisted of a 7,800&nbsp;km [[optical fiber|fibre]] [[backbone network|backbone]] with the potential to reach 8.4 million residential homes and around 610,000 businesses. In January of that year, NTL started rolling out [[video on demand]]. With content selected by NTL, this service covered genres including music videos, children's programming and [[adult entertainment]], as an extension to the basic 'pay per view' services the company offered for film and sport content. The new service allowed customers to rewind, fast forward and pause content.

Despite [[NTL Ireland]] turning a profit, in May 2005, NTL sold their [[Dublin]], [[Galway]], and [[Waterford]] cable business (which they had acquired in 1999 for €825 million from the Irish government) to [[UGC Europe]] for €325 million – this after having spent in excess of €100 million on network infrastructure, resulting in a loss of €500 million, more than 50% of the purchase price. [[Liberty Global]] continued to use the NTL brand in Ireland, but was eventually merged with [[Chorus Communications]] and rebranded as [[Virgin Media Ireland|UPC Ireland]] in May 2010.

By July 2005, NTL had cut its debt to £1.445 billion with an operating cashflow of £178 million. The company had 3.2 million customers buying at least one service from them, with the 1.4 million subscribers to [[Broadband Internet access|broadband]] services making NTL the [[market leader]] in this field.