LONDON -- AMC Networks has inked a deal to acquire Chellomedia, the international content division of Liberty Global, for â¬750 million ($1.035 billion). The transaction is expected to close in the first quarter of 2014.
The acquisition gives AMC access to an extensive array of TV channels that are distributed to more than 390 million households in 138 countries, allowing AMC to distribute programming from AMC, IFC, Sundance Channel and WE tv across a far bigger global footprint. The channels span a range of genres, including movie and entertainment networks.
"Chellomedia has developed a remarkable portfolio of popular channels that reach hundreds of millions around the world. 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," said Josh Sapan, president and CEO of AMC Networks.
"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."
Chellomedia's prexy, Niall Curran, said, "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."
The agreement includes the acquisition of Chellomedia's operating businesses including: Chello Central Europe, Chello Latin America, Chello Multicanal, Chello Zone, the ad sales unit Atmedia and the broadcast solutions unit Chello DMC.