Well, this was expected, after BSkyB swooped in with the predatory move to buy about 20 percent of ITV last month. Cable company NTL said that it abandoned plans to acquire ITV…NTL said it believed a transaction with ITV was “unlikely to be attained on terms acceptable to NTL” and that it will concentrate on integrating its business units.
NTL also said it will continue to focus on integrating NTL, Telewest and Virgin Mobile—to drive cost synergies, improve operations and leverage its content—ahead of rebranding as Virgin Media in the first quarter of 2007.