Cable Management Ireland
Initial investment date: May 1995
Realisation date: November 1999
Trade: Cable TV and Broadband
Business description:
At the time of investment, Cable Management Ireland (CMI) owned and operated 28 exclusive cable television and microwave multi-point distribution service (MMDS) franchises serving the greater Dublin area and the northern and central regions of the Republic of Ireland. The company was founded in 1989 and at the time of GMT's investment was one of the largest cable television and MMDS operators in Ireland. CMI held a licence to provide exclusive multi-channel television services in perpetuity, giving it a strong protected market position, while its growing subscriber base enabled the company to increase revenues whilst maintaining high operating cash flow margins. The company had an experienced management team, which had been involved in cable television for over 20 years. GMT invested in CMI in May 1995 and subsequently rolled its interest over into a UK investment company backed by Legal & General Ventures in December 1996. This company was in turn sold to Liberty Media in November 1999.
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