Liberty Global sells Chellomedia business to AMC Networks in USD1.04 billion deal
According to AMC Networks Inc, it would be purchasing the international content business of Liberty Global Inc. The acquisition deal of Chellomedia by the US cable television network would be valued at USD1.04 billion.
AMC recently became popular because of its television series hits. The channel is home to award-winning dramas including 50s drama "Mad Men", "Breaking Bad," and "The Walking Dead."
The terms of the agreement would also have AMC acquiring the Central European and Latin American units of Chellomedia. The deal would also include the acquisition of Chello Zone, a leader in broadcasting and distributing thematic television channels. The exit, however, would have Liberty Global retaining its Dutch premium channel unit. The business included channels Film1 and Sports1.
The deal was expected to be finalized in the first quarter of next year. Morgan Stanley acted as Liberty Global's financial advisor on the deal. AMC, on the other hand, had tapped Guggenheim Securities to provide advisory services regarding the deal.