New York, New York – AMC Networks Inc. (NASDAQ: AMCX) announced on February 3, 2014 that it has completed its acquisition of substantially all of Chellomedia, the international content division of Liberty Global (NASDAQ: LBTYA), for €750 million (approximately $1.0 billion USD).
“Chellomedia has a collection of strong, well-established and well-managed assets worldwide and we’re excited about the long-term growth opportunity this acquisition represents for AMC Networks and its shareholders,” said Josh Sapan, President and CEO of AMC Networks.
The acquisition provides AMC Networks with an extensive array of television channels that are distributed to more than 390 million households in 138 countries. The channels span a range of genres, including movie and entertainment networks, providing significant long-range opportunities for AMC Networks to distribute its original programming from AMC, IFC, Sundance Channel and WE tv across an expansive global footprint. The acquisition builds on the company’s existing and growing international 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.
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