Liberty Global completes Chellomedia sale
Editor | 03-02-2014
After a series of major outlays on cable assets in Europe, Liberty Global has gone someway with balancing its books with the completion of the sale of Chellomedia to AMC Networks.
The John Malone-owned company announced in October 2013 that it had lined up AMC in a deal worth €750 million which offered a number of Chellomedia's operating businesses including Chello Central Europe, Chello Latin America, Chello Multicanal, Chello Zone, the ad sales unit Atmedia and the Chello DMC broadcast solutions unit. Liberty Global will retain its Dutch premium channel business which comprises the Film1 and Sport1 lines.
For its part AMC said that the acquisition builds on its existing international programming business, AMC/Sundance Channel Global, and will continue to deliver content to its global distribution partners. In addition to AMC/Sundance Channel Global, Chellomedia will join a strong content portfolio including IFC, Sundance Channel, WE tv and IFC Films.