AMC Networks has closed its US$1 billion (€750 million) acquisition of global channels operator and content company Chellomedia from Liberty Global.
The deal is for “substantially all” of Liberty’s interests in Chello, excluding Dutch premium cable channels Film1 and Sport1. Chello Central Europe, Chello Latin America, Chello Multicanal, Chello Zone, ad sales unit Atmedia and broadcast solutions unit Chello DMC are all now part of the AMC channels business.
In total, US-based AMC gets its hands on an extensive array of channels that are distributed to nearly 400 million homes in 138 territories.
The deal leaves Liberty with cable operations such as Virgin Media, UPC, Unitymedia, Kabel BW, Telenet and VTR and is close to closing a €10 billion deal for Dutch cableco Ziggo.
Last year, Liberty president CEO Mike Fries claimed Chellomedia had “never” ben a strategic fit with John Malone’s cable business and was seeking to recoup US$1 billion, which it has now done.
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