Franklin Mutual, which owns a 9.45 per cent stake in Virgin Media, made the statement to the US Securities and Exchange Commission, after Virgin warned that it expected to lose subscribers this quarter as a result of its ongoing feud with BSkyB. The battle started when discussions about how much Sky wanted to charge Virgin for carrying its basic package of channels broke down.
The Week: City News - Virgin strategy questioned
One of Virgin Media's major investors, Franklin Mutual Advisors, has called the company's strategic direction into question following the company's poor first-quarter results.
