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AMC Extends International Network with Purchase of Chellomedia for $1 Billion

Television IndustryAMC (tv network)Global ExpansionLiberty Global IncorporatedIFC (tv network)Sundance Channel (tv network)

LONDON -- AMC Networks has extended its international television network with the acquisition of television channels business Chellomedia from cabler Liberty Global for Euros750 million ($1 billion).

The deal provides AMC with an extensive array of international 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 opportunities for AMC to distribute its original programming from AMC, IFC, Sundance Channel and WE tv across an expanded global footprint.

The acquisition builds on AMC's existing international programming biz, AMC/Sundance Channel Global, which is headed by prexy Bruce Tuchman.

AMC said that its chief operating officer Ed Carroll will lead the integration of Chellomedia. Reporting to Carroll are the heads of Chellomedia's operating businesses: Alejandro Harrison, CEO, Chello Latin America; Mike Moriarty, managing director, Chello Central Europe; Dermot Shortt, CEO, Chello Zone; and Eduardo Zulueta, managing director, Chello Multicanal. Tuchman will continue to report to Carroll.

Josh Sapan, prexy-CEO of AMC, said: "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."

The deal was first reported by Variety in October.

Liberty Global will retain its Dutch premium channel business, which consists of its Film1 and Sport1 channels.

2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC

Copyright © 2014, The Baltimore Sun
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