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A new player has entered the pay-TV market in the shape of Virgin Media, the new name for the merged entity of NTL, Telewest and Virgin Mobile.

Virgin founder Sir Richard Branson became the new company's biggest shareholder when Virgin Mobile was bought out by NTL last year, and today insisted that the firm represented a "major new force" in Britain's entertainment and communications sector.

The firm will offer consumers a quad-play of broadband, digital TV, home phone and mobile services, but faces stiff competition from pay-TV market leader BSkyB.

Speaking at Virgin Media's official launch earlier today, Sir Richard said that a "milestone" in the media and cable industries had been reached.

"For the first time there is a single brand set to provide a more extensive range of television entertainment, broadband and communication services than previously offered by anyone in the UK," he claimed.

"Our transition to Virgin Media has been underway since last July and will continue over the coming months, as we roll out an outstanding 21st century customer experience in home entertainment and communications."

Three separate scaled services of £20, £30 and £40 will be available for consumers, accompanying the launch of a new television channel Virgin Central and 15 standalone retail stores across the UK.

Commenting on the launch of Virgin Media, which has an existing customer base of ten million, Jason Lloyd of price comparison website Money Supermarket said:

"This battle can only benefit consumers in the short term, but in the medium term it will reduce consumer choice. The sooner the likes of BT Vision, Tiscali and the mobile networks enter the fray with their product offerings the better it will be for consumers," he said.