Liberty Global will sell its international content division...
Liberty Global will sell its international content division Chellomedia to AMC Networks for just over $1 billion, said AMC (http://bit.ly/18ufLQr0) and Liberty (http://bit.ly/1at8Ael) Monday. Chellomedia’s channels are distributed to more than 390 million households in 138 countries, said the Liberty…
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release. “For Liberty Global, this transaction is attractive from both a valuation and liquidity perspective,” said CEO Mike Fries in the release. “It also simplifies our business and allows us to focus on our core markets and more strategic programming opportunities.” The assets being sold include Chello Multicanal, Chello Central Europe, Chello Zone, Chello Latin America and Chello DMC, and Chellomedia’s stakes in joint ventures with CBS International, A+E Networks and Zon Optimus. Liberty Global will retain its Dutch premium channels Film1 and Sport1, it said. AMC plans to use Chello’s many international channels to distribute original programming from AMC, IFC, Sundance Channel and WE tv “across an expansive global footprint,” AMC said. The transaction is expected to close in the first quarter of 2014, and isn’t conditioned on any regulatory approvals, it said.