AMC acquires Chellomedia in €750 million deal:
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AMC acquires Chellomedia in €750 million deal
Editor | 28-10-2013
As it seeks to balance its books after its spending spree on European cable assets, Liberty Global has sold its Chellomedia international content division to AMC Networks.
The deal, worth €750 million and expected to close in the first quarter of 2014, includes the acquisition of Chellomedia’s operating businesses distributed to more than 390 million households in 138 countries. These include Chello Central Europe, Chello Latin America, Chello Multicanal, Chello Zone, the ad sales unit Atmedia and the broadcast solutions unit Chello DMC.
Liberty has been looking for a buyer for Chellomedia since May 2013 when it valued the content division in the region of $800 million to $1 billion.AMC says 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.
“Chellomedia has developed a remarkable portfolio of popular channels that reach hundreds of millions around the world,” commented Josh Sapan, president and CEO of AMC Networks. “As AMC Networks has expanded internationally, we have had a great desire to do something we consider fundamentally strategic, which is to take our content and put it on channels we own. This acquisition allows us to secure a large, global platform on which to distribute our increasingly successful original programming through a collection of strong, well-established and well-managed assets worldwide. Together, we can grow these assets and make them even more popular and valuable around the world.”
Added Chellomedia president, Niall Curran: “AMC Networks are content professionals with an excellent creative and business track record. They are highly enthusiastic about the business we have built at Chellomedia and are ambitious to develop it further, making AMC Networks a great owner and partner for Chello’s next phase of growth.”
Editor | 28-10-2013
As it seeks to balance its books after its spending spree on European cable assets, Liberty Global has sold its Chellomedia international content division to AMC Networks.
The deal, worth €750 million and expected to close in the first quarter of 2014, includes the acquisition of Chellomedia’s operating businesses distributed to more than 390 million households in 138 countries. These include Chello Central Europe, Chello Latin America, Chello Multicanal, Chello Zone, the ad sales unit Atmedia and the broadcast solutions unit Chello DMC.
Liberty has been looking for a buyer for Chellomedia since May 2013 when it valued the content division in the region of $800 million to $1 billion.AMC says 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.
“Chellomedia has developed a remarkable portfolio of popular channels that reach hundreds of millions around the world,” commented Josh Sapan, president and CEO of AMC Networks. “As AMC Networks has expanded internationally, we have had a great desire to do something we consider fundamentally strategic, which is to take our content and put it on channels we own. This acquisition allows us to secure a large, global platform on which to distribute our increasingly successful original programming through a collection of strong, well-established and well-managed assets worldwide. Together, we can grow these assets and make them even more popular and valuable around the world.”
Added Chellomedia president, Niall Curran: “AMC Networks are content professionals with an excellent creative and business track record. They are highly enthusiastic about the business we have built at Chellomedia and are ambitious to develop it further, making AMC Networks a great owner and partner for Chello’s next phase of growth.”
http://www.satsupreme.com/showthread.php/269613-AMC-acquires-Chellomedia-in-€750-million-deal?goto=newpost via SatSupreme.com - Satellite TV - Daily Satellite TV News
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