NTL

NTL is a US listed company providing cable services. It is listed on NASDAQ, but does the majority of its business in the UK.

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The company is called NTL Group Ltd. This is made up of 2 major divisions; Home and Business.

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• Home provides telephone, Internet, digital television and radio services to residential premises via cable.
• Business offers communication packages to commercial clients.

History

NTL was founded in 1993 as International CableTel Inc (trading name: CableTel) by Barclay Knapp and George Blumenthal, the founders of the cellular network company Cellular Communications, Inc. (sold to Airtouch in 1996). CableTel was founded to take advantage of the deregulation of the UK cable business. Franchises were acquired covering the London area and parts of Scotland and Wales. In 1998 the business was renamed NTL. The new name was an abbreviation of National Transcommunications Limited, the privatised UK Independent Broadcasting Authority transmission network which CableTel had acquired previously. The company spent heavily on both expanding its network and acquiring rivals. Its UK network is built of a 7,800km fibre backbone and has the potential to reach 8.4 million residential homes and around 610,000 businesses. The company began to expand outside of the UK in 2000, buying into markets on continental Europe and also in Ireland.

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The collapse of the telecommunications markets from mid-2000 was a serious blow to the company. Devalued and struggling with debts of around $18bn NTL was forced to seek 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 in what was, technically, the largest debt default in US corporate history. the company's debt was reduced to $6.4bn. NTL itself was reorganised into NTL Inc. covering the UK and Irish markets and NTL Europe Inc. for the French, Swiss and German parts of the business. The NTL president and CEO, Barclay Knapp, as well as Stephen Carter, the MD and COO, were replaced.

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US: REDIRECT US (disambiguation)...

Cable: A cable is two or more wires bound together which may be bare or covered or insulated. It may be protected by a jacket sheath which protects all. Electrical cables can also act as carriers for other media, including optical fibers....

NASDAQ: NASDAQ (originally an acronym for National Association of Securities Dealers Automated Quotations) is a U.S. electronic stock exchange. It was founded by the National Association of Securities Dealers (NASD) who divested it in a series of sales in 2000 and 2001. It is owned and operated by The Nasda...