Liberty Global Profit Drops

ENGLEWOOD, November 9: Third quarter profit at Liberty
Global fell from $445 million to $40.4 million, on revenues of $2.26 billion,
which were 39-percent up on the year-ago period.

The company had 23.5 million total revenue generating units
(RGUs) at September 30, 2007, with 14.7 million video (10.6 million analog
cable, 3.1 million digital cable and 1 million DTH), 5.1 million broadband
Internet and 3.7 million telephony subscribers. In the third quarter, the
company added 385,000 organic RGUs and 45,000 RGUs through three European
acquisitions.

Mike Fries, the company’s president and CEO, stated: “Our
third quarter results reflect a return to more normalized subscriber growth for
our operating subsidiaries. Organic RGU additions of 385,000 represent an 8
percent increase compared with last year’s third quarter net gain and a 45
percent sequential increase over Q2 2007. The rebound was experienced across
nearly all products and geographies. If you include digital TV, we added nearly
650,000 advanced service6 RGUs and, due to an increased emphasis on bundling,
achieved our largest quarter ever for telephony net additions. We’ve also
generated good momentum with our fall marketing campaigns in Europe. As a
result, we expect that our fourth quarter will be the largest quarter of the
year in terms of subscriber growth.”

—By Mansha Daswani