NEW YORK CITY: Liberty Global, part of a media empire controlled by US tycoon John Malone, said Monday it was selling most of its international television channels to AMC Networks for some US$1 billion. <\/p>\n
Liberty, which claims to be the largest international cable company with operations in 14 countries, said it was selling its international content division Chellomedia. <\/p>\n
The division includes Chello Multicanal, Chello Central Europe, Chello Zone, Chello Latin America and Chello DMC. <\/p>\n
Chellomedia's stakes in its joint ventures with CBS International, A+E Networks, Zon Optimus and other partners are also part of the deal, but Liberty Global will retain its Dutch premium channel business, including the Film1 and Sport1 channels. <\/p>\n
The enterprise value of the deal was set at 750 million euros or US$1.035 billion. <\/p>\n
\"This is a great transaction for all parties\" said Liberty global chief Mike Fries. <\/p>\n
\"Chellomedia is one of the largest international channel groups with distribution to more than 390 million households in 138 countries, and I have no doubt that the management team will continue to build tremendous value as part of AMC. <\/p>\n
\"For Liberty Global, this transaction is attractive from both a valuation and liquidity perspective. It also simplifies our business and allows us to focus on our core markets and more strategic programming opportunities.\" <\/p>\n
Liberty Global earlier this year acquired Britain's Virgin Media in a deal worth 17.2 billion euros. <\/p>\n
Liberty Global brands also include UPC, Unitymedia, Kabel BW, Telenet and VTR. <\/p>\n
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Liberty Global in US$1b deal to sell channels<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" NEW YORK CITY: Liberty Global, part of a media empire controlled by US tycoon John Malone, said Monday it was selling most of its international television channels to AMC Networks for some US$1 billion. Continue reading