Liberty Global CEO Mike Fries said the international cable company’s recent content purchases are merely a way to drive customers to the core business, adding that in the future the company will continue to look at assets in the sports, production and free-to-air broadcast space.
After selling its Chellomedia content assets to AMC Networks in February for about $1 billion, the company has been on a tear, snapping up a 6.4 % interest in U.K. commercial broadcaster ITV for $822.4 million; partnering with Discovery Communications on the $930 million purchase of production house All3 Media and is reportedly eyeing a 50% interest in German over-the top service Maxdome.
“Content for us is a means to an end,” Fries said at the UBS Global Media & Communications conference in New York late Wednesday. “It’s a means to driving the connectivity business that is most important to us.”
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