2 0 0 1 , ▁was ▁removed ▁as ▁franch ise e ▁of ▁the ▁South ▁Eastern ▁franch ise ▁in ▁ 2 0 0 3 ▁on ▁the ▁grounds ▁of ▁poor ▁financial ▁management . ▁It ▁was ▁replaced ▁as ▁the ▁franch ise ▁holder ▁by ▁South ▁Eastern ▁Tra ins , ▁a ▁company ▁wh olly ▁owned ▁by ▁the ▁Str ateg ic ▁Rail ▁Author ity , ▁which ▁would ▁operate ▁the ▁franch ise ▁until ▁it ▁could ▁be ▁tender ed ▁again . ▁New ▁franch ise ▁hold ers ▁Ar riv a ▁Tra ins ▁Wales ▁and ▁Mer sey ra il ▁began ▁operating . ▁First Group ▁purchased ▁GB ▁Rail ways ▁which ▁owned ▁the ▁Ang lia ▁Rail ways ▁and ▁H ull ▁Tra ins ▁business es . ▁▁ 2 0 0 4 – 2 0 0 6 ▁▁ 2 0 0 4 ▁A ▁policy ▁where ▁the ▁majority ▁of ▁services ▁( both ▁long - distance ▁and ▁comm uter ) ▁from ▁each ▁London ▁terminal ▁would ▁all ▁be ▁operated ▁by ▁the ▁same ▁franch ise ▁was ▁partially ▁en act ed . ▁In ▁April ▁ 2 0 0 4 , ▁One ▁comm enced ▁operating ▁the ▁Gre ater ▁Ang lia ▁franch ise ▁that ▁combined ▁the ▁Ang lia ▁Rail ways ▁and ▁First ▁Great ▁Eastern ▁franch ises ▁with ▁the ▁West ▁Ang lia ▁Great ▁Northern ▁services ▁radi ating ▁out ▁from ▁Liverpool ▁Street . ▁The ▁remainder ▁continu ing ▁to ▁be ▁operated ▁as ▁W AG N . ▁In ▁the ▁same ▁month , ▁Th ames ▁Tra ins ▁was ▁su pers eded ▁by ▁First ▁Great ▁Western ▁Link . ▁ ▁In ▁the ▁North ▁of ▁England , ▁prior ▁to ▁ 2 0