Video Networks aims for TV broadcaster

Video Networks is set to compete with NTL and Telewest in a battle for broadcast TV market share.

The privately held video-on-demand business will enter the challenge as long as it raises £200m in its next round of funding.

The loss making group will invest the funding into expanding its 15,000 strong customer base in London and other areas of the UK, beginning with the Midlands.

Broadcast veteran Sir David Frost and elder statesman Lord Owen are two of Video Networks' backers and are confident the company is in with a chance against big cable companies.

Video Networks currently sits under the HomeChoice banner and hopes to launch its own broadcast TV service in July, plus a computer games service by 2003.

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