Cable major Liberty Global has completed the sale of Chellomedia to AMC Networks for $1.0 billion.
Liberty Global, the largest cable company with operations that connected 24 million customers in 14 countries, will retain its Dutch premium channel business, which consists of its Film1 and Sport1 channels.
Liberty Global’s consumer brands include Virgin Media, UPC, Unitymedia, Kabel BW, Telenet and VTR.
Josh Sapan, president and CEO of AMC Networks, said: “The acquisition provides AMC Networks with an array of television channels that are distributed to more than 390 million households in 138 countries.”
The acquisition builds on the company’s existing and growing 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 Vice Presidents Ed Palluth and Harold Gronenthal.
Meanwhile, AMC Networks’ chief operating officer Ed Carroll will lead the company’s integration of Chellomedia.
