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Virgin TV writedown

Mathieu Robbins
Thursday 26 February 2009 01:00 GMT
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Virgin Media yesterday slashed the balance sheet value of its home shopping business.

The cable company said the writedown of £54.8m at Sit-up, which trades as bid tv, price-drop tv and speed auction tv, reflected the impact of the consumer downturn and the loss of one of its two Freeview channels.

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