AMC completes Chellomedia deal
February 3, 2014 07.34 Europe/London By Chris Dziadul
chello-officeAMC Networks has announced the completion of its acquisition of substantially all of Liberty Global’s Chellomedia for €750 million.
The deal provides the company with an extensive array of TV channels distributed to over 390 million households in 138 countries.
They span a range of genres, including movie and entertainment networks, providing significant long-range opportunities for AMC Networks to distribute its original programming from AMC, IFC, Sundance Channel and WE tv across an expansive global footprint.
The deal also builds on the company’s existing and growing international programming business, AMC/Sundance Channel Global, which will continue to deliver AMC Networks’ content to its global distribution partners. Bruce Tuchman, president of AMC/Sundance Channel Global, will continue to lead this key business for AMC Networks with the support of executive VPs Ed Palluth and Harold Gronenthal.
AMC Networks’ CEO Ed Carroll will lead the company’s integration of Chellomedia. Reporting directly to Carroll are the heads of Chellomedia’s operating businesses: Alejandro Harrison, CEO – Chello Latin America; Mike Moriarty, MD – Chello Central Europe; Dermot Shortt, Chief Executive Officer – Chello Zone; and Eduardo Zulueta, MD – Chello Multicanal. In addition, AMC/Sundance Channel Global’s Tuchman will continue to report to Carroll.
Commenting on the acquisition, Josh Sapan, president and CEO of AMC Networks, said: “Chellomedia has a collection of strong, well-established and well-managed assets worldwide and we’re excited about the long-term growth opportunity this acquisition represents for AMC Networks and its shareholders.”