The standard bearer in the UK cable TV market, Virgin Media (VMED) provides service that serves close to two-thirds of the country's population. Like SBAC, Virgin Media's entire value proposition (both to investors and to customers) lies in its network infrastructure. As a relative newcomer in the space, the firm boasts a modern network that delivers faster speeds for broadband internet than most rivals can offer. That's secured it the country's number-two spots in pay TV and internet service.
On the flip side, Virgin has financed that speedy network through debt. VMED is one stock where the debt load is truly substantial relative to its size - but the cash that the cable network throws off should easily cover it provided that VMED doesn't suffer a mass customer exodus in the next few quarters. A debt restructuring pushed maturities way back for the firm as well, removing the biggest liquidity concerns from investors' shoulders.But the stocks' short interest ratio of 11.8 means that short sellers are still betting against VMED en masse. That makes this stock a solid short squeeze candidate for 2012. As of the most recently reported quarter, VMED was one of David Einhorn's Greenlight Capital holdings.